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What is the primary difference between market and non-market activities?
- a)Market activities are performed for pay or profit, while non-market activities are for self-consumption
- b)Market activities require more skill than non-market activities
- c)Non-market activities involve production for sale, while market activities are for personal use
- d)Market activities are not recognized in national income calculations, while non-market activities are
Correct answer is option 'A'. Can you explain this answer?
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What is the primary difference between market and non-market activitie...
The primary difference is that market activities are performed for pay or profit, such as producing goods or services that are sold, while non-market activities are conducted for self-consumption, like home-based tasks. Market activities contribute to national income, while non-market activities do not directly impact it.
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What is the primary difference between market and non-market activitie...
Primary Difference between Market and Non-market Activities:
Market activities are performed for pay or profit, while non-market activities are for self-consumption. This key difference sets the two types of activities apart from each other.
Market Activities:
- Market activities involve the production of goods or services that are intended for sale in the market.
- These activities are performed with the goal of earning a profit or monetary compensation.
- Examples of market activities include working for a company, selling products, providing services for a fee, etc.
Non-market Activities:
- Non-market activities are those activities that are performed for personal use or consumption, rather than for sale in the market.
- These activities may include household chores, gardening for personal enjoyment, cooking for oneself, etc.
- Non-market activities do not involve monetary transactions or the exchange of goods and services for profit.
In summary, market activities are characterized by the exchange of goods and services for pay or profit, while non-market activities are focused on self-consumption and personal use.
Market activities are performed for pay or profit, while non-market activities are for self-consumption. This key difference sets the two types of activities apart from each other.
Market Activities:
- Market activities involve the production of goods or services that are intended for sale in the market.
- These activities are performed with the goal of earning a profit or monetary compensation.
- Examples of market activities include working for a company, selling products, providing services for a fee, etc.
Non-market Activities:
- Non-market activities are those activities that are performed for personal use or consumption, rather than for sale in the market.
- These activities may include household chores, gardening for personal enjoyment, cooking for oneself, etc.
- Non-market activities do not involve monetary transactions or the exchange of goods and services for profit.
In summary, market activities are characterized by the exchange of goods and services for pay or profit, while non-market activities are focused on self-consumption and personal use.
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What is the primary difference between market and non-market activities?a)Market activities are performed for pay or profit, while non-market activities are for self-consumptionb)Market activities require more skill than non-market activitiesc)Non-market activities involve production for sale, while market activities are for personal used)Market activities are not recognized in national income calculations, while non-market activities areCorrect answer is option 'A'. Can you explain this answer?
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What is the primary difference between market and non-market activities?a)Market activities are performed for pay or profit, while non-market activities are for self-consumptionb)Market activities require more skill than non-market activitiesc)Non-market activities involve production for sale, while market activities are for personal used)Market activities are not recognized in national income calculations, while non-market activities areCorrect answer is option 'A'. Can you explain this answer? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about What is the primary difference between market and non-market activities?a)Market activities are performed for pay or profit, while non-market activities are for self-consumptionb)Market activities require more skill than non-market activitiesc)Non-market activities involve production for sale, while market activities are for personal used)Market activities are not recognized in national income calculations, while non-market activities areCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary difference between market and non-market activities?a)Market activities are performed for pay or profit, while non-market activities are for self-consumptionb)Market activities require more skill than non-market activitiesc)Non-market activities involve production for sale, while market activities are for personal used)Market activities are not recognized in national income calculations, while non-market activities areCorrect answer is option 'A'. Can you explain this answer?.
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