![]() ![]() ![]() ![]() Some needs are urgent while others may wait for some time. He determines his priorities for applying his resources. Every person assesses his needs and resources. It is essential to make a judicious allocation of resources so that maximum needs are satisfied. The economic resources are limited and their requirements are many. These objectives are discussed as follows: 1. Fisher gives two objectives for economic activities, i.e., proper allocation of resources and optimum use of resources. All kinds of occupations and professions are undertaken to create wealth and satisfy human needs. The human efforts are directed for the welfare of society. Objectives of Economic Activities :Įconomic activities are undertaken to produce goods and services so that human wants are satisfied. The social development is linked to the economic activities undertaken there. The economic resources are employed to produce new products and this process helps in generating employment avenues and ultimately the money income. When old needs are satisfied then new needs crop up. Developmental Activities:Įconomic activities not only satisfy human wants but also become a basis for economic development of the society. A living is possible with money income earned from economic activities. People undertake these activities to satisfy their family needs with the help of money earned through productive activities. Money Income:Īll economic activities, these may be related to business, profession or service, help in earning money income. On the other hand when a person saves money out of his current earnings for satisfying his needs after the retirement then it will be a plan for the future. When a person undertakes a job to earn money and buy necessities for his family then it will be satisfying present needs. The needs to be satisfied may be present or future. The main aim of economic activities is to satisfy human needs. ![]()
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