What is economic activity ?

1.	What is economic activity ?
Answer» All economic activities arising out of unlimited wants and scarce maens are included in the subject matter of economics. According to the modern economics “ That activity is called economic activity which is related to the use of limited resources for satisfying unlimited human wants. “ All economic activities do not generate income i.e. it is not necessary that income must always be created through economic activities- Income may or may not be generated by performing economic activities. For example, consumption is an economic activity but income is not generated by consuming an article.

Answer»

All economic activities arising out of unlimited wants and scarce maens are included in the subject matter of economics.

According to the modern economics “ That activity is called economic activity which is related to the use of limited resources for satisfying unlimited human wants. “

All economic activities do not generate income i.e. it is not necessary that income must always be created through economic activities- Income may or may not be generated by performing economic activities. For example, consumption is an economic activity but income is not generated by consuming an article.

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