What is economic activity?

An economic activity involves the production, distribution, or consumption of goods and services to earn income or satisfy needs.

Three types:

• Primary: Uses natural resources directly farming, fishing, mining.
• Secondary: Processes raw materials manufacturing, construction.
• Tertiary: Provides services banking, teaching, healthcare, IT.

GDP measures the total value of all economic activities within a country.

Summary: Economic activity covers all production, distribution, and consumption of goods and services, classified as primary, secondary, or tertiary.