Question

(C) Differentiate between economic and non-economic activities. Give any two points.​

Answer 1

Economic activities are performed for economic motive, i.e. earning profit. On the other hand, non-economic activities are performed due to social or psychological reasons, i.e. out of love, affection etc. ... Economic activities result in creation and accumulation of wealth as they are done to earn profit

Answer 2

The different between economic and non-economic activities are

Economic activity

1 Activity which contribute to the National Income are called economic activity

2 These are done for pay or profit

3 Tje factors are remunerated

4 Example : manufacturing, teaching, banking, etc.

Non-Economic activities

1 Non-economic activities do not contribute to the national income.

2 Non-economic activities are not paid for.

3 In non-economic activities the factor are not remunerated.

4 Example :housewife working at home ,social service etc. include all non profit services.

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