Choose whether the given statement is True/False:

A teacher teaching in a school is a non-market activity.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Non-market activities are those activities that are in dire straits to self-consumption. In other words, non-market activities are those that do not provide any profits or, say, doing it'll not offer any payment or bonuses. Some of the samples of such activities are as follows :
1) Teacher teaching her son - if a lecturer teaches in class, he/she will get acquired, but in reception, they'll not get any salary because they're teaching his / her child.
2) Farmer producing crops for his self-consumption - if a farmer produces crops for the market, he will get money reciprocally for it, but if he grows the food grains only for the self - consumption, there'll come a time when he will run out of cash moreover as all the important things needed for growing a crop.

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