Economic vs Non-Economic Activities Quiz

Economic activities involve the production, distribution and consumption of goods and services for money or money's worth.

Some examples of non-economic activities are reading books, serving people, and cooking by a mother.

Business represents organized efforts by an individual or group of individuals.

<p>Business involves organized efforts by individuals or groups, profession refers to specialized knowledge and skills, and employment refers to working for someone else.</p> Signup and view all the answers

<p>Economic activities facilitate earning a livelihood.</p> Signup and view all the answers