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Production, distribution, exchange, and consumption of products and services constitute the core of ____ activities


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Detailed Solution

Production, distribution, exchange, and consumption of products and services constitute the core of economic activity.
It is possible to express economic activity in monetary terms. For example, a farmer grows vegetables to sell in the market, a businessman earns a profit, a doctor charges fees for his services, etc. The basic goal of economic activity is to generate profit. People engage in these activities to make money to support their way of life.
 
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Production, distribution, exchange, and consumption of products and services constitute the core of ____ activities