What are the basic economy?what impact do they have one another? – InterviewSolution

1.	What are the basic economy?what impact do they have one another?
Answer» e ...❤️❣️The basic economic activities are:1.PRODUCTION of product / GOODS / services.2.Consumption of the produced items3.Capital FormationAny good that is produced is either CONSUMED or used in terms of capital formation. Also, all the three activities are interdependent to (or) impacted on ONE other. Any increase in any of the three activity causes the other two to increase spontaneously. When capital formation is high, then there will be an increase in production. Hence, there will be an increase in the level of consumption as well. And in turn, RESULTS in high capital formation.Vice-versa is also true.hope it helps u ....❤️❤️brainliest pls ...❣️❣️

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