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Introduction — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIntroduction6 Marks
Question
Any transaction which involves money But is associated with Economics. Defend or refute. Justify your answer.
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Answer

I refute this statement. Any activity concerned with production, distribution toate or investment is said to be associated with Economics. Many activities which involve money but are not a part of Economics are exemplified below:
  • Donations.
  • Prizes.
  • Pocket Money.
  • Gifts.
  • Gambling etc.
On the other hand, many activities are a part of Economics but are not involving money. It includes:
  • Production for self consumption.
  • Investment in own business.
  • Barter system etc.

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