difference between economic and non economic activities
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Explanation:
ECONOMIC ACTIVITY-
=> Economic activity refers to a human activity related to production and consumption of goods and services for economic gain.
=> Economic, i.e. to earn money.
=> Measured in monetary terms.
=> Approach in Pragmatic.
=> Results in creation of wealth and assets.
=> Adds value to national income.
NON-ECONOMIC ACTIVITY-
=> Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain.
=> Social or psychological, i.e. out of love, affection, etc.
=> Lacks money measurement.
=> Approach in Idealistic.
=> Results in satisfaction and happiness.
=> Does not affects national income.
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