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Questions
Explain the following term/concept.
Economic Activity
Explain economic activity.
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Solution
- Human beings are engaged in various activities throughout the day.
- Some activities are done to earn money or livelihood.
- These activities are called economic activities.
- Economic activities are of three types; they are business, employment, and profession.
- Because of the economic activities a person can earn for himself and his family.
- These activities are required for the survival of a human being.
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