Question

Which of the following is/are characteristics of economic activities?

1. Economic activities we undertake to earn money income.
2. Economics activities help to create wealth.
3. Economic activities satisfy basic human needs such as food, clothing and shelter.
4. Economic activities serve as the basis for economic development.

Options

• Only (ii)

• (i) and (iii)

• (iv), (ii), (iii)

• All of these

Answer 1

All of these

Explanation:

Economic activities are undertaken to earn income, create wealth, satisfy basic human needs like food, clothing, and shelter, and serve as the foundation for economic development. All four statements (i), (ii), (iii), and (iv) are characteristics of economic activities.