Question

Difference between economic and non economic activities

Answer 1

Economic activity refers to a human activity related to production and consumption of goods and services for economic gain.

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

Answer 2

ECONOMIC ACTIVITY :

. Economic activity refers to a human activity related to production and consumption of goods and services for economic gain.

. 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.

. Lacks money measurement

. Does not affects national income..