Differentiate between economic and non economic activities with the help of examples
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Non-economic activities are the activities in which the payment of money is not done. In other words , it might be the service done without expecting money...
Eg:- A Housewife who does Cooking everyday.
Economic activities are those which includes the payment of money from which the Goods or services are given.
Eg:- A shopkeeper's business, A doctor's service..etc
Eg:- A Housewife who does Cooking everyday.
Economic activities are those which includes the payment of money from which the Goods or services are given.
Eg:- A shopkeeper's business, A doctor's service..etc
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ECONOMIC ACTIVITY: The activities which provide you 'earning benefit' or 'Profit' after performing them are known as Economic activities.
Example: A chef cooking food in a hotel is economic activity. (It is because he works in a hotel for a salary or for an earning benefit.)
NON-ECONOMIC ACTIVITY: The activities which do not provide you any 'Earning benefit' or 'Profit' after performing them are known as Non - Economic activities.
Example: Mother cooking food at home is a Non - economic activity. (It is because mother does the cooking work at home as done by chef but not for a salary or an earning benefit. Mother does it for Love and affection, which is a non economic activity.)
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