Question

Differentiate the following activities into economic and non economic.
(a)A property dealer is purchasing a house for himself.
(b)A doctor is giving his son a medical treatment. (c)A person is selling tea on a Railway station. (d) A property dealer is buying a house for someone on commission
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Answer 1

Answer:

a is non economic

b is non economic

c is economic

d is economic

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Answer 2

Answer:

a) It is a non-economic activity because it is not done with the motive of earning profit.

b) It is a non-economic activity because it is done due to love and sympathy.

c) It is an economic activity because it is done with the motive of earning profit.

d) It is an economic activity because it is done with the motive of earning profit.

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