Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below:
Assertion (A): Economic activity is the same as production activity.
Reason (R): There is a distinction to be made between production activity and economic activity.

Assertion (A) is False but Reason (R) is True

Economic activity has a wider scope as compared to production activity. Economic activity is necessarily done for making money while the same is not true for production activity. A production activity can be done for various purposes such as charity, self-sustaining production, etc. Whereas, economic activity includes other activities like consumption, investment, etc.