Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Topic

Economics

Question:

What do you understand by the term "Market activities"?

Options:

Activities performed for self-consumption

Activities performed for philanthropic work

 Activities performed for pay or profit

Activities performed for production of goods

Correct Answer:

 Activities performed for pay or profit

Explanation:

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.