Which of the following is an economic activity?

Assessment: WAEC SSCE - Economics - 2004 (Objective) Subject: Economics

Question 1 Report

Which of the following is an economic activity?
Answer Details
The economic activity among the given options is the payment of school fees. An economic activity is any activity that involves the production, distribution, and consumption of goods and services to satisfy the needs and wants of people. In this case, paying school fees involves the exchange of money for the service of education. Education is a service that is produced by schools and consumed by students. By paying school fees, parents or guardians are contributing to the production and distribution of education, which is an essential service for human development and progress. In contrast, attending a town's meeting, visiting a stadium, and arresting a petty thief do not directly involve the production or consumption of goods and services and are therefore not considered economic activities.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning