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Which of the following is a characteristic of economic activities?
- a)Performed out of love
- b)Done without expectation of payment
- c)Involve generating income or monetary value
- d)Done for personal satisfaction only
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Which of the following is a characteristic of economic activities?a)Pe...
Economic activities are characterized by the generation of income or monetary value, involving transactions where goods or services are exchanged for money or its equivalent.
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Which of the following is a characteristic of economic activities?a)Pe...
Understanding Economic Activities
Economic activities are fundamental actions that involve the production, distribution, and consumption of goods and services. They play a crucial role in shaping the economy and fulfilling the needs of society. Among the options provided, the correct characteristic of economic activities is that they involve generating income or monetary value.
Key Features of Economic Activities
Conclusion
In summary, economic activities are characterized by their focus on generating income and monetary value. Understanding these activities is essential, as they form the backbone of economies and influence livelihoods across the globe.
Economic activities are fundamental actions that involve the production, distribution, and consumption of goods and services. They play a crucial role in shaping the economy and fulfilling the needs of society. Among the options provided, the correct characteristic of economic activities is that they involve generating income or monetary value.
Key Features of Economic Activities
- Involve Generating Income: Economic activities are primarily aimed at creating wealth. This can be through selling products, providing services, or engaging in trade. The focus is on earning money, which is essential for sustaining businesses and livelihoods.
- Expectation of Payment: Unlike activities performed out of love or personal satisfaction, economic activities are typically conducted with the expectation of receiving payment. This distinguishes them from voluntary activities or hobbies.
- Not Just Personal Satisfaction: While personal satisfaction can be a byproduct of some economic activities, it is not the primary goal. The main objective is to meet economic needs, which often requires financial compensation.
- Beyond Love and Altruism: Economic activities are generally distinct from actions done purely for love or without expectation of payment. Charitable work or volunteering may not always generate income but can be fulfilling in other ways.
Conclusion
In summary, economic activities are characterized by their focus on generating income and monetary value. Understanding these activities is essential, as they form the backbone of economies and influence livelihoods across the globe.
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Which of the following is a characteristic of economic activities?a)Performed out of loveb)Done without expectation of paymentc)Involve generating income or monetary valued)Done for personal satisfaction onlyCorrect answer is option 'C'. Can you explain this answer?
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Which of the following is a characteristic of economic activities?a)Performed out of loveb)Done without expectation of paymentc)Involve generating income or monetary valued)Done for personal satisfaction onlyCorrect answer is option 'C'. Can you explain this answer? for Class 6 2024 is part of Class 6 preparation. The Question and answers have been prepared according to the Class 6 exam syllabus. Information about Which of the following is a characteristic of economic activities?a)Performed out of loveb)Done without expectation of paymentc)Involve generating income or monetary valued)Done for personal satisfaction onlyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 6 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is a characteristic of economic activities?a)Performed out of loveb)Done without expectation of paymentc)Involve generating income or monetary valued)Done for personal satisfaction onlyCorrect answer is option 'C'. Can you explain this answer?.
Which of the following is a characteristic of economic activities?a)Performed out of loveb)Done without expectation of paymentc)Involve generating income or monetary valued)Done for personal satisfaction onlyCorrect answer is option 'C'. Can you explain this answer? for Class 6 2024 is part of Class 6 preparation. The Question and answers have been prepared according to the Class 6 exam syllabus. Information about Which of the following is a characteristic of economic activities?a)Performed out of loveb)Done without expectation of paymentc)Involve generating income or monetary valued)Done for personal satisfaction onlyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 6 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is a characteristic of economic activities?a)Performed out of loveb)Done without expectation of paymentc)Involve generating income or monetary valued)Done for personal satisfaction onlyCorrect answer is option 'C'. Can you explain this answer?.
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