Distinguish between economic and non economic Activities
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1.A activity related to production and consumption of goods and service for economic gain is called economic activity.
An activity performed gladly,with aim of providing services without any regard to monetary gain is known as non economic activity.
2.Economic activities are performed for economic motive i.e.,earning profit.On the other hand non economic activities are performed due to social or physiological reason.
3.The measurement of economic terms is in monetary terms whereasnon economic activities lack monetary measurment.
4.Economic activities have paramagnetic approach, in essence, it deals with the things in practical way. As against this non economic activities have an idealistic approach where in more importance is given to human values instead of money.
after this you can see two more points in the picture.
I hope it may help you....
An activity performed gladly,with aim of providing services without any regard to monetary gain is known as non economic activity.
2.Economic activities are performed for economic motive i.e.,earning profit.On the other hand non economic activities are performed due to social or physiological reason.
3.The measurement of economic terms is in monetary terms whereasnon economic activities lack monetary measurment.
4.Economic activities have paramagnetic approach, in essence, it deals with the things in practical way. As against this non economic activities have an idealistic approach where in more importance is given to human values instead of money.
after this you can see two more points in the picture.
I hope it may help you....
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