By the time I graduate from university next year ,i engineering for 5 years - will have been studied
-will have been studying
-had been studying

(B) will have been studying.

the economic activity signified in that scenario is a. production

in general, market production makes reference to the elaboration of a product or service which is destinated for economic purposes (to be sold) at money-price in a market. such product or service has to be principally tradable for money.

there is no money exchange involved in distribution, generalized reciprocity or balanced reciprocity.