Activities that add value to the national income are called economic activities These have two parts − market activities (production for pay or profit) and nonmarket activities (production for self consumption) Noneconomic activities are the ones that do not add to the national income;CBSE Class 11 Business Studies Notes Nature and Purpose of Buisness 1 Economic Activities Activities which are under taken by people with the object of earning money are known as economic activities eg, production of goods in 8Meaning ↓ Human activities which are not performed for money or money's worth are called noneconomic activities Here, there is no monetary consideration in exchange for such activities Eg A person goes to temple, a boy helps his friend in studies, etc Types / Classification of Economic Activities ↓
Economic Activity Definition Examples Video Lesson Transcript Study Com
