When you "ready an action", you don't actually take your action outside of your turn. You're using your action for the Ready action, and you use it on your turn, potentially along with movement and a bonus action.
What you do later on, when the trigger occurs, is therefore not using your action - it's using a reaction that mimics an action. RAW, the rules use the phrasing "[...] the action you [...] take [...]", but mechanically you're still using your reaction, not your action - you just have all the options you would normally have with an action.
Basically, using Ready, you can turn an action or your movement (both of which would occur on your turn) into a reaction, which can occur outside of your turn (thanks @T.J.L. for the phrasing - that's exactly what I wanted to get across).
Now, Ready states:
[...] First, you decide what perceivable circumstance
will trigger your reaction. Then, you choose the action
you will take in response to that trigger, or you choose
to move up to your speed in response to it. [...]
Hence, the rules allow actions and movement - but not bonus actions.
Yes
Ready action requires (emphasis mine):
First, you decide what perceivable circumstance will trigger your reaction. Then, you choose the action you will take in response to that trigger, or you choose to move up to your speed in response to it.
The general rule is 1 Action per turn, but then specific rules can override that (e.g. Action Surge, Haste, etc.). I believe that Ready is another specific rule that overrides this as well because while you are using your Action to Ready, what you are really doing is using your Reaction to move your Action to another time.
Attack vs. attack (or does action have a meaning here?)
Upper case and lower case a have a meaning in the PHB, with the former being the Action described under Actions in Combat in the PHB.
When Ready asks you to choose your action, you use the actions listed there. The cases described in the PHB are "Use an Object" and "Movement" for the Ready (since you can only do one.)
In the case of this question, the Action that is being taken is Attack.
Attack Action on your turn
If you take the Attack action on your turn, then it comes with all the fun stuff that happen on your turn. This includes Extra Attack (which typically doesn't happen on a Ready whose trigger occurs NOT on your turn.)
In contrast, you can look at another reaction: Opportunity Attack. In this instance, the language does not say to take an action but to simply make a melee weapon attack. The difference is in the use of Action in the phrasing for Ready.
Actions vs attacks
The language in Ready is to choose the action. Actions are a defined term in the rules under Combat->Actions in Combat.
At other times, there is other language used when specifying melee/ranged/melee weapon/ranged weapon attacks. The language in Ready does not say to Ready an attack (lowercase a), it says to ready an action.
There are also several referenced examples of Ready Action and Extra Attack/Multiattack that reference the On your turn as the important qualifier. Had they not intended a Ready attack to be the Attack Action, then the discussion would have ended there and not referenced the turn requirements.
There are also other specific examples of more than one action on a turn that override that general rule: Cunning Action, Haste, Action Surge, etc.
The action choice intent (emphasis mine) is also provided by Crawford:
The Ready action lets you ready any action you can take, including Attack, but Extra Attack is on your turn.
Not only has he clearly stated that you take an Action, and that Action can be Attack (uppercase A), but that Extra Attack only functions on your turn.
Best Answer
Yes, and no
Yes, you can ready an action (technically called "take the Ready action", but people rarely say it like that) on your turn (which becomes your Reaction)
Per the rules of "Ready":
So you can, as your action for your turn, take the Ready action and declare that you will do something as a Reaction. This gives you great flexibility is what you can accomplish: cast a spell, fire a weapon, yell real loud, whatever. In these cases, you are giving up your Action for the trade off of doing something at a later time.
No, not everything needs to use up an Action
There are certain spells, feats, and other things that are naturally taken as a Reaction, without using your Action. An example would be the Shield spell. It has a normal casting time of "1 Reaction *". The asterisks has the qualifier:
So you can use it under those conditions without using up an Action to say, "I'm going to cast Shield."
Attacks of Opportunity are also Reactions.
Just remember that you only get one Reaction per round.