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Q.

Economic activity refers to :


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a

Human activities related to the production and consumption of goods and services for economic gain.

b

Marketing activities and purchasing activities

c

Economic activities and non-economic activities

d

None of these 

answer is A.

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Detailed Solution

Economic activity refers to human activities related to the production and consumption of goods and services for economic gain. The nature and purpose of economic activities can be used to classify them. Based on their nature, economic activities can be classified into three sectors: the primary sector, the secondary sector, and the tertiary sector. Based on their purpose, economic activities can be classified as either market activities or non-market activities.
 
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