Class 6 Exam > Class 6 Questions > Which of the following best describes an econ...
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Which of the following best describes an economic activity?
- a)A hobby pursued for personal enjoyment
- b)Volunteering in a community event
- c)Working in a factory for a wage
- d)Helping a friend move house
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Which of the following best describes an economic activity?a)A hobby p...
Working in a factory for a wage is an economic activity because it involves providing labor in exchange for monetary compensation, contributing to the economic productivity and income of the individual.
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Which of the following best describes an economic activity?a)A hobby p...
Understanding Economic Activity
Economic activities are actions that involve the production, distribution, and consumption of goods and services for monetary gain. Let's examine why option 'C' is the correct answer.
Definition of Economic Activity
- Economic activities are primarily aimed at earning a profit or generating income.
- They contribute to the economy by creating jobs, producing goods, or providing services.
Analysis of Each Option
- a) A hobby pursued for personal enjoyment
- Hobbies are typically non-commercial and are done for personal satisfaction, not for income.
- b) Volunteering in a community event
- Volunteering is altruistic and focuses on helping others without financial compensation, thus not an economic activity.
- c) Working in a factory for a wage
- This option clearly represents an economic activity.
- It involves producing goods and earning a wage, contributing to the economy directly.
- d) Helping a friend move house
- While this may involve physical labor, it is usually done as a favor without any monetary exchange, thus not an economic activity.
Conclusion
Option 'C' is the only choice that meets the criteria of an economic activity. Working in a factory for a wage involves the exchange of labor for money and contributes to the overall economy, making it a clear example of economic activity.
Economic activities are actions that involve the production, distribution, and consumption of goods and services for monetary gain. Let's examine why option 'C' is the correct answer.
Definition of Economic Activity
- Economic activities are primarily aimed at earning a profit or generating income.
- They contribute to the economy by creating jobs, producing goods, or providing services.
Analysis of Each Option
- a) A hobby pursued for personal enjoyment
- Hobbies are typically non-commercial and are done for personal satisfaction, not for income.
- b) Volunteering in a community event
- Volunteering is altruistic and focuses on helping others without financial compensation, thus not an economic activity.
- c) Working in a factory for a wage
- This option clearly represents an economic activity.
- It involves producing goods and earning a wage, contributing to the economy directly.
- d) Helping a friend move house
- While this may involve physical labor, it is usually done as a favor without any monetary exchange, thus not an economic activity.
Conclusion
Option 'C' is the only choice that meets the criteria of an economic activity. Working in a factory for a wage involves the exchange of labor for money and contributes to the overall economy, making it a clear example of economic activity.
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Which of the following best describes an economic activity?a)A hobby pursued for personal enjoymentb)Volunteering in a community eventc)Working in a factory for a waged)Helping a friend move houseCorrect answer is option 'C'. Can you explain this answer?
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Which of the following best describes an economic activity?a)A hobby pursued for personal enjoymentb)Volunteering in a community eventc)Working in a factory for a waged)Helping a friend move houseCorrect 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 best describes an economic activity?a)A hobby pursued for personal enjoymentb)Volunteering in a community eventc)Working in a factory for a waged)Helping a friend move houseCorrect 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 best describes an economic activity?a)A hobby pursued for personal enjoymentb)Volunteering in a community eventc)Working in a factory for a waged)Helping a friend move houseCorrect answer is option 'C'. Can you explain this answer?.
Which of the following best describes an economic activity?a)A hobby pursued for personal enjoymentb)Volunteering in a community eventc)Working in a factory for a waged)Helping a friend move houseCorrect 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 best describes an economic activity?a)A hobby pursued for personal enjoymentb)Volunteering in a community eventc)Working in a factory for a waged)Helping a friend move houseCorrect 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 best describes an economic activity?a)A hobby pursued for personal enjoymentb)Volunteering in a community eventc)Working in a factory for a waged)Helping a friend move houseCorrect answer is option 'C'. Can you explain this answer?.
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