"Economic activities" is categorized into which of the following categories?
Answer & explanation
Correct answer: option 4
The activities that result in the production of goods and services and add to the value of national income are called as "economic activities". They have been further divided into 2 categories i.e. market and non-market activities. Market activities involve remuneration to anyone who performs i.e., activity performed for pay or profit. Non-market activities are the production for self-consumption.