Types of Activities and Sectors in an Economy
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Q1
Which among the following is not a non-economic activity?
Marks:1Answer:
A girl selling her home made chocolates in market.
Explanation:
A girl selling her home made chocolates in market is not a non-economic activity. Non-economic activities refer to activities which are not related to wealth or money. People engage in these activities out of love, sympathy, patriotism, etc.
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Q2
Attending marriage is considered as a __________.
Marks:1Answer:
social activity
Explanation:
Attending marriages, birthday parties, cultural events, etc are considered as social activity.
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Q3
Which of the following activity is classified as market activities?
Marks:1Answer:
Selling fruits in market
Explanation:
Market activities are those activities which involve remunerations/ returns to one who performs the activity (in terms of profit, income, wages, rent, etc.). For example: selling fruits in market, working in offices, etc.
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Q4
There are basically _______ types of economics activities.
Marks:1Answer:
two
Explanation:
There are basically two types of economics activities, non-market and market activities.
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Q5
When a person goes to market to purchase something, this activity is known as ________.
Marks:1Answer:
economic activity
Explanation:
A person goes to market to purchase something; this activity is known as economic activity. The activities which are concerned with money or wealth are called economic activities.