Question

Choose the correct option.

Statement I: Market activities are performed for self-consumption of goods and services.
Statement II: Non-market activities are performed to earn money.

• A. Both the statements are true.
• B. Both the statements are false.
• C. Statement I is true, but statement II is false.
• D. Statement I is false, but statement II is true.

Answer 1

The correct option is B Both the statements are false.

Market activities are performed to earn money. On the other hand, non-market activities are performed for self-consumption of goods and services. For example, a farmer producing crops and selling them in the market for money is engaged in a market activity. However, a farmer producing crops for his or her self-consumption is engaged in a non-market activity.