Disguised unemployment For instance, painting and singing, etc. For example banking provides finance to the tradesman. High Yielding Variety (HYV) seeds are developed in Farming is the main economic activity of the rural people. out of love, affection etc. The activity is based on a contract between the company and the employee. The activity includes happiness and mental satisfaction. A farmer ploughing his field. Fundamentals of Macroeconomics - MCQs with answers - Part II. Search for: Latest Posts. Example, e.g. Economics Objective & Practice Questions (HOT & Expected Questions for 2020) for NTA (UGC)-NET. oil, coal, forests, fish, farming. _________activities refer to those activities, which are not undertaken to earn money. Socio-economic aspects - Population - MCQs with answers - Part 1 1. Capital: man-made physical goods used in production, e.g. Non-economic activity is an activity performed with the purpose of rendering services to others without any consideration to financial gain. So, the main difference comes down to money which in turn leads to profit. The part of the total deposits which a bank keeps with itself in cash is. Activities that involve money or the exchange of products or services are economic activities. Some common examples of non-economic activities are. Practice Test: Question Set - … e.g. However, both sectors are important. We have provided Nature and Purpose of Business Class 11 Business Studies MCQs Questions with Answers to help students … Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Check the below NCERT MCQ Questions for Class 9 Economics Chapter 2 People as Resource with Answers Pdf free download. We provide all important questions and answers from chapter Business Economics. Researchers, teachers and students are allowed to use the content for non commercial offline purpose. here you will find the the Baisc to Advance and most Important Economics Mcqs for your test preparation. This economic activity provides goods and services to satisfy human needs on a daily basis with the aim of earning profits. Motive: Economic, i.e. Its only aims at acquiring pleasure in idle time. Important Questions for Class 11 Economics. PEEDA ACT 2006 AGAINST MRS. ASIA TASLEEM ANWAR DY. This activity is dedicated and inspired by family. 2. These are generally known as services. In fact, economic activities are means of livelihood. Activities that lead to the production of goods and services, and contribute to national income are called economic activities. Labour: human effort available for production/human capital, e.g. Economic Activities: Economic activities are those which are inspired by the objective of earning money; which is required by people to satisfy their day-to-day needs of life. Or Give an example of a non-economic activity. [5 marks] Explain why prices tend to be relatively stable in a non … __________activities are performed out of love, sympathy, sentiments, patriotism etc. Uneducated rural people can be categorised under ____. Factors of production: Land: natural resources available for production, e.g. MCQs of Economics 1. a) Minimal government intervention in trade and minimum regulations. Pause the video to work out and choose your answer - then watch as the correct answer is explained. 17.Economic growth in Russia and China used to be led by the public sector. worshiping God and visiting the temple, etc. Along with farming, people are engaged in some other economic activities like dairy, small manufacturing, transport, shop-keeping, etc. 1) To determine the correct level of GNP (Gross national product), it is necessary to: ... Total sales in the economy (B) Total monetary transactions in an economy (C) The market value of all goods and services produced in an economy (D) Total spending in an economy. 2. Economic activities include any kind of activities which include the exchange of money in return for providing, making, selling ormanufacturing commodities and services. You might also want to know: Top 6 Difference Between Microeconomics And Macroeconomics, Additional link: Organisation Of Economic Activities. 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