Question

Difference between economic and non economic activity with appropriate basis

Answer 1

Answer:

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. Economic, i.e. to earn money. ... Lacks money measurement.

Answer 2

Answer:

DIFFERENCES BETWEEN ECONOMIC AND NON - ECONOMIC ACTIVITY

ECONOMIC - Activities which contributes to the national income are called economic activities.

• It is done for earn profit.

• For ex- Teaching , Transporation

NON - ECONOMIC - Activities which do - not contributes to the national income are called non - economic activities

• It is not done to earn profit.

• For ex - Womens doing household chores, taking care of children.

MORE TO KNOW --

• Classification of activities

i) Primary activity - Activities link with the processing of natural resources

for ex - Farming

ii) Secondary activity - Activities that take raw material and process it into finished good

for ex- Making of clothes from cotton

iii) Tertiary activity - Activities that supports primary and secondary sector

for ex - Transportation