Identify the economic concept for following statementvasant sheth prov

1.	Identify the economic concept for following statementvasant sheth provides coal from his shop to farmers in exchange for foodgrains
Answer» Answer: Vasant SHETH provides coal from his shop to FARMERS in exchange for foodgrains –Economic activity: The purpose of economic operations is to earn cash, livelihood ETC. So you can write teacher TEACHING in school, shopkeeper selling products, etc. It is what makes products and services produced and delivered. Goods consumption encourages competition and market introduction of better products. Consumption therefore promotes the operations of manufacturing, so it is an economic activity in itself. Non-economic operations are performed so you can also write MOTHER cooking food for her family, teacher teaching her own child, etc. Human activities are non-economic actions that are conducted for private fulfilment or to fulfil human feelings.

Identify the economic concept for following statementvasant sheth provides coal from his shop to farmers in exchange for foodgrains

Answer»

Answer:

Vasant SHETH provides coal from his shop to FARMERS in exchange for foodgrains –Economic activity:

The purpose of economic operations is to earn cash, livelihood ETC.
So you can write teacher TEACHING in school, shopkeeper selling products, etc.
It is what makes products and services produced and delivered. Goods consumption encourages competition and market introduction of better products.
Consumption therefore promotes the operations of manufacturing, so it is an economic activity in itself.
Non-economic operations are performed so you can also write MOTHER cooking food for her family, teacher teaching her own child, etc.
Human activities are non-economic actions that are conducted for private fulfilment or to fulfil human feelings.