There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the options given below.
Assertion: Economic activities are ones that are undertaken for a monetary gain.
Reasoning: When you provide services (you may be a porter, taxi driver or transporter of goods) you are called a seller.
Answer & explanation
Correct answer: option 3
The correct answer is Option 3: Assertion (A) is true but Reasoning (R) is not correct.
Assertion: Economic activities are ones that are undertaken for a monetary gain. This is correct.
Reasoning: When you provide services (you may be a porter, taxi driver or transporter of goods) you are called a seller. This is incorrect. When you produce goods (you may be a farmer or a manufacturing company),or provide services (you may be a doctor, porter, taxi driver or transporter of goods) you are called a producer (not seller)
When you sell goods to make a profit for yourself (you may be a shopkeeper), you are called a seller. .