All categories

3 years ago

What is an economic and non economic activity explain me in short and give one example each

Business

2 answers:

lord [1]3 years ago

6 0

Explanation:

Economic activities:Agriculture, fishing, mining and forestry.

Non-economic:Cultural and religious,family commitment and free time activities.

An economic activity is a process that, based on inputs, leads to the manufacture of a good or the provision of a service.

Non-economic activities refer to a human activity undertaken sheerly out of love, affection, sympathy or patriotism. ... It includes all those activities which are performed for the satisfaction of human sentiments that can be social, religious, cultural, personal, recreational, charity, patriotic.

Sonbull [250]3 years ago

4 0

Answer:Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain.

Explanation:

You might be interested in

Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following

Natali [406]

Answer:

Big Tommy Corporation

Profit and Loss for the year ended December 31

Sales 404,000

Cost of Goods Sold 279,000

Gross Profit 125,000

<em>Operating Expenses:</em>

Salaries and Wages Expense 58,000

Office Expenses 16,000

Travel Expenses 1,000 75,000

Operating Income: 50,000

Non-Operating Expenses

Income Tax Expense 15,000 15,000

Net Income 35,000

Explanation:

Multistep income statement makes a clear distinction on Operating Incomes and Expenses and Non-Operating Incomes and Expenses

Operating income is Profit generated from Primary activities of the company

Non-Operating Incomes and Expenses do not relate to the Primary activities of the firm.They occur as a result of secondary activities.

7 0

3 years ago

Give three reasons why food is processed.

lubasha [3.4K]

To make it edible and digestible

To kill all germs in the food

To make chewing easy

3 0

2 years ago

Bank A quotes a bid rate of $.300 and an ask rate of $.305 for the Malaysian ringgit (MYR). Bank B quotes a bid rate of $.306 an

alexdok [17]

Answer:

B. $1,639

Explanation:

To do arbitraje we will ask at Bank A for $0.305

and then bid in Bank B at $0.306

As the transactions has no cost we are doing a profit by using the exchange as they allowed. Doing this procedure will at some point eliminate the difference in exchange rate for these bank as the purchase will rise the ask rate for Bank A and the sale will decrease the bid rate.

$500,000 \times \frac{0.306}{0.305}$

Total: 501639,3442622951

The profit will be for: 501,639.34 - 500,000 = 1,639.34

7 0

3 years ago

Which of the following is most likely used by a seller to target an impulse buyer? a. contest b. coupon c. display d. rebate Ple

mina [271]

C. Display would be the most accurate

7 0

3 years ago

Read 2 more answers

On January 1, Smith Industries leased equipment to a customer for a four-year period, at which time possession of the leased ass

KiRa [710]

Answer:

The amount of the annual lease payments is $98,124.

Explanation:

This can be calculated using the formula for calculating loan amortization as follows:

P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)

Where,

P = Annual lease payments = ?

A = Amount to be recovered through periodic lease payments = Equipment cost - Residual value = $425,000 - $100,000 = $325,000

r = interest rate = 8%, or 0.08

n = Number of years of lease term = 4

Substituting all the figures into equation (1), we have:

P = ($325,000 * (0.08 * (1 + 0.08)^4)) / (((1+0.08)^4) - 1)

P = $98,124.2614475627

Rounding to the nearest whole dollar as required, we have:

P = $98,124

Therefore, the amount of the annual lease payments is $98,124.

4 0

2 years ago

What is an economic and non economic activity explain me in short and give one example each​

What is an economic and non economic activity explain me in short and give one example each