Economics · Economic Activities
Given below are two statements: Statement I: All human activities related to the production, distribution, and consumption of goods and services are economic activities. Statement II: Human actions including leisure, personal hobbies, and pleasure activities are also defined as economic activities. In light of the above statements, choose the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both Statement I and Statement II are correct
- 2Both Statement I and Statement II are incorrect
- 3Statement I is correct but Statement II is incorrect✓
- 4Statement I is incorrect but Statement II is correct
Correct answer
Statement I is correct but Statement II is incorrect
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