consumption productions and distribution
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Preeti Dabral 2 years, 6 months ago
Economic activities refer to those activities which are undertaken to earn living. Every economy undertakes 3 main economic activities:
Consumption: It is an economic activity as it deals with the use of goods and services for the satisfaction of human wants.
Production: it is an economic activity as it is undertaken to produce goods and services for genration of income and satisfying human wants.
Distribution: it is an economic activity which studies how income generated is distributed among the factors of production.
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