Question

Answer the following questions in brief :
(1) What is the economic and non-economic activity ? Explain with illustration.​

Answer 1

Answer:

Economic activity#

Economic activities are perform to earn profit.

These activities add value to national income.

These are also called market activities.

these activity include production of the goods of service

non economic activities#

these are performed for self consumption.

these activities do not add value to the national income

these are also non market activity

these activity include conception of fixed assets