difference between economic and non economic activity
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Answers
Economic Activities:
1. Economic activities lead to an increase in the personal income of the individual.
2. Economic activities contribute to the flow of goods and services in an economy.
3. These add value to the national income.
Non Economic Activities
1. Non economic activities do not increase the personal income of an individual.
2. Non economic activities do not contribute to the flow of goods and services in an economy.
3. These do not add any value to the national income.
Answer:
Economic and Non - Economic Activity .
Explanation:
1. Economic Activity .
a) Objectives : These activities are related to wealth or money . e.g . a teacher teaching in a class .
b) Types : These are divided into production , consumption , distribution and exchange.
c) Scope : These activities are take place either between an employer and employee between the producer and consumer or between a professional and a client .
d) Return : These are done with the expectation of earning an income in return .
2 . Non - Economic Activity .
a) Objectives : These activities are not concerned with money but are performed as acts of pleasure , love , affection . e.g . a mother taking care of child .
b) Types : These are divide in social , political , religious , charitable , parental and recreational activities .
c) Scope : These activities generally take place between family members or between social worker and these who are being served by them .
d) Return : These are done to get mental or psychological satisfaction in return .
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