Why is business considered an economic activity?

Q. Why is Business considered as an Economic Activity?

Q. Is business an economic activity?

Q. Industry is an economic activity where as Commerce is a business activity.

Q. State whether the following statements are True or False:
(a) Taking photographs of mountains as a hobby is an economic activity.
(b) Teaching in a school is a non-economic activity.
(c) Service or employment is an economic activity.
(d) Business involves buying and selling of goods and services.
(e) Running a hair-cutting saloon is a business.
(f) Occupations of doctors, lawyers and chartered accountants are called professions.
(g) Economic activities are undertaken for earning a living