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Question : Which activity is not included in production ? 

Option 1: Production of wheat by a farmer 

Option 2: Production of medicines by a company 

Option 3: Services given by a nurse in hospital 

Option 4: Services done by a house-wife in her own house 


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Services done by a house-wife in her own house


Solution : Correct Answer is Services done by a house-wife in her own house

Producing goods and services to meet consumer demands is known as production. The process yields the final product. Land, capital, labor, and organization make up the four factors of production. A housewife's personal services performed in her own home are not counted toward production. Since we are aware that an economy only associates production with economic activities, this activity is referred to as a "non-economic activity."

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