Answer the following.


1. Define what is Livelihood.

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2. Define Product in your own words.

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3-5. Give 3 examples of products that you can sell in front of your house.

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6. Define Service in your own words.

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7-9. Give 3 examples of service that we can make in front of our house that demands a cheap capital.

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10. What do you think is the importance of determining the availability of resources in pursuing a livelihood opportunity?

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Answer :

The definition of livelihood is the way you make your living and pay for the basic things you need in life.

A product is an item offered for sale. A product can be a service or an item. It can be physical or virtual or cyber form. Every product is made at a cost and each is sold at a price.

Examples of products are as follows:

  • cars,
  • furniture,
  • computers

Service is defined as repairing, maintaining, or providing something to someone. An example of service is fixing a broken washing machine. An example of service is providing appetizers to a group of people at a restaurant.

Agriculture is an important source of livelihood for the majority of rural people. It is estimated that 2.5 billion of the developing world's 3 billion rural inhabitants are in households involved in agriculture, with 1.5 billion of these in smallholder households.

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