Expand the production of goods and servicesB. Expand the production of goods and services.
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Equalize the distribution of consumer income and wealthC.
. Up to 256 cash back cerisehare907 Lv1. A primary economic activity refers to an economic activity that involves collecting extracting or harvesting natural resources. Labour is the measure of work done by humans to produce goods and services.
On the other hand when a person saves money out of his current earnings for satisfying his needs after the. The primary goal of economic activity is to provide for the needs of people not from AA 1. Businesses produce goods and services to meet demand.
Reallocate resources from consumption to production in the economy. The goods produced through a primary economic activity can either be consumed directly or can be used as a raw material to produce or manufacture a different product. TRUE Without profit businesses will go out of business.
Producers freely market their goods and services the laws of supply and demand determine price and quantity and the market competition is the primary force shaping production decisions and distributions. The main purpose of economic activity is to provide goods and services to meet needs and wants. Goods and services are created for the use of the producers and their kinship groups.
Some of them provide products to other companies either as capital goods semi-finished products or finished products. Make the most efficient use of scarce productive resources. Equalize the distribution of consumer income and wealth.
Make the most efficient use of scarce productive resourcesD. The primary purpose of economic activity is to meet human needs. 4 The primary goal of business activities is profit.
These activities mainly produce raw materials required in different types of industries. The need that needs fulfillment may be in the present or future. Solutions for Chapter 1 Problem 2MCQ.
The primary goal of economic activities is to make the most efficient use of scarce productive resources. Economic activity involving the processing of raw materials and their transformation into finished industrial products. Land refers to all naturally occurring resources used to produce goods and services.
The primary aim of the economic activity is the production of goods and services with a view to make them available to consumer. The four key economic resources are land labour capital and enterprise. The primary goal of economic activities is to.
They involve many activities such as production distribution and trade. Full employment stability and economic growth are the three macroeconomic goals most relevant to the aggregate economy and consequently are of prime importance to the study of macroeconomics. The main aim of economic activities is to satisfy human needs.
Primary Economic Activities. Full employment is achieved when all available resources labor capital land and entrepreneurship are used to produce goods and services. Any economic activity pertaining to the collecting harvesting and obtaining of raw materials 3fm.
When a person undertakes a job to earn money and buy necessities for his family then it will be satisfying present needs. Capital is the money or wealth used to create. When a person does work to earn money and buy necessities for his family it will satisfy current needs.
The needs to be satisfied may be present or future. ECONOMICS ACTIVITIES Economic activities are related to production distribution exchange and consumption of goods and services. Meeting the needs and wants is the primary goal of economic activity.
The primary goal of economic activities is toA.
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