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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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Verified 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
  • 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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Read the passage and answer the question that follows.The psychological causes of unhappiness, it is clear, are many and various. But all have something in common. The typical unhappy man is one who, having deprived in youth of some normal satisfaction, has come to value this one kind of satisfaction more than any other, and has therefore given to his life a one-sided direction, together with a quite undue emphasis upon the achievement as opposed to the activities connected with it. There is, however, a further development which is very common in the present day. A man may feel so completely thwarted that he seeks no form of satisfaction, but only distraction and oblivion. He then becomes a devotee of "pleasure". This is to say, he seeks to make life bearable by becoming less alive. Drunkenness, for example, is temporary suicide-the happiness that it brings is merely negative, a momentary cessation of unhappiness.Q. "One sided direction" refers to the pursuit of which one of the following?

Read the passage and answer the question that follows.The psychological causes of unhappiness, it is clear, are many and various. But all have something in common. The typical unhappy man is one who, having deprived in youth of some normal satisfaction, has come to value this one kind of satisfaction more than any other, and has therefore given to his life a one-sided direction, together with a quite undue emphasis upon the achievement as opposed to the activities connected with it. There is, however, a further development which is very common in the present day. A man may feel so completely thwarted that he seeks no form of satisfaction, but only distraction and oblivion. He then becomes a devotee of "pleasure". This is to say, he seeks to make life bearable by becoming less alive. Drunkenness, for example, is temporary suicide-the happiness that it brings is merely negative, a momentary cessation of unhappiness.Q. What does "becoming less alive" imply?

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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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