Question

12. Distinguish between market and non-market activities with three points.

Answer 1

Answer:

Market Activities:

(i) It involves the remuneration paid to anyone who performs an activity for earning money.

(ii) It gives profit.

(iii) For example : Government services.

Non—Market Activities:

(i) Production is for self-consumption.

(ii) It doesn't give any profit

(iii) For example : Processing of primary products for production of goods and one's own self-services