M6L3 Assignment by

Consumption

anirudhmirthi27 — 2024-03-20 13:19:46 UTC

Utilization of goods and services that satisfy the wants and needs of customers.

Example: Consumers use the products and services of the business like clothind and healthcare which contribute to economic activity.

anirudhmirthi27 — 2024-03-20 13:22:23 UTC

A process of creating the goods and services using various other resources.

Example:

Businesses can transform natural elemets such as metalsand human resources and capital resources to produce products like cars and clothing

anirudhmirthi27 — 2024-03-20 13:25:31 UTC

Involves transfer of goods, services or money between people or businesses.

Example:

Resource distributers get money from businesses a for suppliying them with raw resources.

anirudhmirthi27 — 2024-03-20 13:27:15 UTC

Process of allocating goods, services and income to individuals and businesses.

Example:

Income earned by resource supliers and producers is used to purchase goods and services, completing the distribution cycle.

anirudhmirthi27 — 2024-03-20 13:29:56 UTC

These are all the important economic activities.