In order to make an economy work efficiently, economic activities should take place without fail. Which of the following shows us the basic economic activities?

Production, consumption, investment

The correct answer is Option 3: Production, consumption, investment

An economy consists of basic economic activities of production, consumption and investment. These are important because they act as the basis for the survival and growth of an economy. These activities are fundamental to the functioning of an economy as they involve creating goods and services, using them, and investing in future production.

Note: According to Chapter 1 of the NCERT microeconomics textbook: "Production, exchange and consumption of goods and services are among the basic economic activities of life". However, NCERT provides a non-exhaustive list by stating "among the basic economic activities." Thus, while production, exchange, and consumption are fundamental, investment also plays a crucial role in sustaining economic growth.