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State with reasons, whether the following statements are True or False:Economic Activities are performed with the purpose of gaining satisfaction. |
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Answer» This statement is FALSE. Reasons: ‐ Economic activities are undertaken for the purpose of earning livelihood while non‐economic activities are performed for gaining happiness, pleasure and satisfaction. ‐ Reward for economic activity is money or money’s worth. ‐ Examples of economic activities are: a teacher teaching in a school, a worker performing work in a factory, a doctor treating a patient etc. ‐ Non‐economic activities are undertaken without the intention of gaining money or material rewar ‐ Examples of non‐economic activities are: cooking for one's children, reading a book, listening to music etc. Thus, the above statement is false. |
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