Question

Differentiate 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.
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Answer 2

Every human being keeps himself occupied in some activity to satisfy human wants; such activities are known as human activities. These activities are broadly classified as economic and non-economic activities. While economic activities are those conducted with an aim of earning money or acquiring wealth, non-economic activities are performed free of cost, with service motive.

The main difference between economic and non-economic activities lies in the fact that the economic activities are carried out to satisfy human needs, whereas non-economic activities are performed for gaining psychological satisfaction.