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| 1. |
What are the two parts of economic activities? |
| Answer» Economic activities mean producing goods and services in three different sectors such as primary, secondary and tertiary sectors. These activities add value to the national income.Economic activities have two parts: market and non-market activities.\tMarket activities are the activity performed to earn income or activity performed for pay or profit. For example, production of goods and services (including government service).\tNon-market activities are the production of goods and services for self-consumption. | |