Economic Activity

This unit of work looks at economic activity over a range of spheres including private consumption and investment spenditure, economic activity and household services, trade unions and company profit.

Economic activity and household services

Measurement of economic activity is based on goods and services that are marketed. Many goods and services, while produced, are not exchanged, and so no productive income is generated. Household activity includes housework (washing, cleaning and cooking), house repairs and gardening by the owners. This is non-market activity and so is not included in official measures of economic activity.