What is an economic organization?

Dear Student, An economic organisation is an organisation which is engaged in the economic activities of producing goods and services. Now this production activity can be further classified into profit making and subsistence purpose. The big industrialist like Tata and Reliance produce goods and services for the purpose of making profit while a farmer may produce foodgrains for its subsistence so that he need not purchase the same from the market. If there remains any surplus then he sells it in the market to earn money. Regards