Differentiate between economic and non-economic activities
with help of examples.
Answers
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. Motive. Economic, i.e. to earn money.eco- Transportation,Mining,Manufacturing,Production,Banking,Distribution,Consumption,Farming,Cultivation,Livestock....non eco house keeping
Answer:
Economic activities: like :manufacturing, food processing, oil refining ,doctor, teacher etc...
1) Economic activities refers to a human activity related to production & consumption of goods & services for economic gain.
2) Economic motive is to earn money.
3) Money is measured in monetary terms.
4) It results in creation of wealth & assets.
Non-economic activities: These are done out of compassion ,love and care. For Example:- Doing social work, helping the poor, going to temple
1) Non-economic activity refers to a activity performed with the aim of providing services to others without any regard to monetary gain.
2) Non-economic motive is social or psychological.
3) Money lacks in measurement.
4) It results in satisfaction & happiness.