Questions and Answers
Which of the following is NOT an economic activity?
Reading books
Which term represents organized efforts by an individual or group of individuals?
Business
Which type of activity involves the production, distribution, and consumption of goods and services for money or money's worth?
Business
What are activities that are performed to satisfy personal, social, religious, cultural, and sentimental requirements without monetary expectations?
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What type of activity facilitates earning a livelihood?
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Study Notes
Economic Activities
- Not an economic activity: Non-monetary activities that are performed to satisfy personal, social, religious, cultural, and sentimental requirements.
Entrepreneurship
- Represents organized efforts by an individual or group of individuals.
Economic Activity Types
- Involves the production, distribution, and consumption of goods and services for money or money's worth: Economic activity.
Non-Economic Activities
- Performed to satisfy personal, social, religious, cultural, and sentimental requirements without monetary expectations: Non-economic activities.
Livelihood
- Facilitates earning a livelihood: Economic activity.
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