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Q.

The two components of economic activities include


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a

Transactional activity

b

Market Activity

c

Nonmarket activity

d

Both 2) and 3) 

answer is D.

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Detailed Solution

The two components of economic activities include Market Activity and Nonmarket activity.
  • Market activities are pursued compensation or financial gain. Market activities are those that give you the chance to make money off of work and business. Products or services offered by these activities include those provided by the government. Because they provide income and money that can be used for other activities like food, education, health, and so forth, these activities are essential to human life and communities.
  • Nonmarket activities are carried out for personal consumption rather than for compensation or profit. These activities may include using primary products, processing, and producing fixed assets for one's account. Activities carried out for one's consumption are considered nonmarket activities.

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    The two components of economic activities include