SOCIAL STUDIES

Academic Year 2023 - 2024

Semester 2 - Term 3

Topic : Economic Activities Name : _____________________

Student’s No : _________
NOTE 3 Class : 4A/4B/4C/4D

What are the production activities?

Production is an activity to produce a good or service. The main
economic activities of production are carried out by producers in
order to produce goods to meet consumer needs. In simple words,
the definition of production is the process in which various inputs,
such as land, labour, and capital, are used to produce the outputs
in
the form of products or services.

What are the distribution activities?

Distribution is the process of making a
product or service available for the
consumer or business
user who needs it, and a distributor is a business involved in the
distribution stage of the value chain.
Distribution means to spread the product throughout the marketplace
such that a large number of people can buy it. Distribution involves
doing the following things: A good transport system to take the goods
into different geographical areas.

What are the consumption activities?

The economic activity of consumption is defined as the process by which goods and services are.
put to final use by people.
Consumption, in economics, the use of goods and services by households.

What are examples of economic consumption?

Consumption can be defined in different ways, but it is best
described as the final purchase of goods and services by
individuals. The purchase of a new pair of shoes, a hamburger
at the fast food restaurant or services, like getting your house
cleaned, are all examples of consumption.