Question

Distinguish between economic and non economic Activities 100 to 150 words

Answer 1

BASIS FOR COMPARISONECONOMIC ACTIVITYNON-ECONOMIC ACTIVITYMeaningEconomic 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.MotiveEconomic, i.e. to earn money.Social or psychological, i.e. out of love, affection, etc.Money measurementMeasured in monetary terms.Lacks money measurement.ApproachPragmaticIdealisticResults inCreation of wealth and assets.Satisfaction and happiness.National IncomeAdds value to national income.Does not affects national income.

Answer 2

Let me help you in handling this;

The various goods and services are put in different categories depending with the nature of categorization. in this case;

Economic goods are the goods that have got a direct influence of the money value in the economy while non economic goods are those goods that do not have a direct impact on the money value, to the economy.