Which of the following activities is NOT a Market

Q: Answer-Which of the following activities is NOT a Market Economic Activity?

Economic activities have two parts market activities and non-market activities. Market activities involve remuneration to anyone who performs i.e., activity performed for pay or profit. These include production of goods or services, including government service. Non-market activities are the production for self-consumption. As rearing of cows for self-consumption of milk gets the owner no remuneration, it is a non-market economic activity.

Economic Activity?

A Employment in MGNREGA Correct Answer Incorrect Answer

B Employment in Government Civil Service Correct Answer Incorrect Answer

C Rearing of Cows for milk for own-consumption Correct Answer Incorrect Answer

D Employment in a Bank Correct Answer Incorrect Answer

E All of the above are Economic Activity Correct Answer Incorrect Answer

Solution

Economic activities have two parts — market activities and non-market activities. Market activities involve remuneration to anyone who performs i.e., activity performed for pay or profit. These include production of goods or services, including government service. Non-market activities are the production for self-consumption. As rearing of cows for self-consumption of milk gets the owner no remuneration, it is a non-market economic activity.

Practice Next

Relevant for Exams:

Management Aptitude Test (MAT)

NABARD GRADE A

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