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Question
Select the part(s) of economic activities among the following.
Select the part(s) of economic activities among the following.
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Solution
The correct option is D Distribution
Professor Boulding propounded that production, distribution, exchange, and consumption of goods and services are different parts of economic activities.
The producers manufacture goods through the production process. Then the final goods are sold to the wholesaler, who sells them to the retailer. This is known as the distribution and exchange process. Finally, people buy these products from the retailer or the seller. This is known as the consumption process.
Professor Boulding propounded that production, distribution, exchange, and consumption of goods and services are different parts of economic activities.
The producers manufacture goods through the production process. Then the final goods are sold to the wholesaler, who sells them to the retailer. This is known as the distribution and exchange process. Finally, people buy these products from the retailer or the seller. This is known as the consumption process.
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