Practicing Success
What do you understand by the term "Market activities"? |
Activities performed for self-consumption Activities performed for philanthropic work Activities performed for pay or profit Activities performed for production of goods |
Activities performed for pay or profit |
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. |