Distinguish between economic and non economic activities
Answers
Answer:
.NO. ECONOMIC ACTIVITIES NON-ECONOMIC ACTIVITIES
1. Economic activities are defined as the activities that are done to earn a living. On the other hand, non-economic activities are defined as the activities that are done for self-satisfaction and emotional development.
2. The economic growth and development of the country take place through economic activities. Psychological and social growth is seen during non-economic activities.
3. There are three sectors of economic activities like primary, secondary, and tertiary sectors. There are no sectors of non-economic activities; rather, they are prominently based on interests, habits, hobbies, etc.
4. The main aim of economic activities is to earn money, i.e., providing services and earning financial remuneration. The main purpose of non-economic activities is to be psychologically and emotionally developed.
5. Economic activities are measured on a monetary scale. Non-economic activities cannot be measured.
6. Economic activities have a practical approach. Non-economic activities have an idealistic approach.
7. Economic activities lead to the formation of assets and wealth. Non-economic activities lead to happiness and satisfaction.
8. An economic activity adds up to national income. Non-economic activities do not have any effect on the national income.
9. Business, employment, etc., are the prominent types of economic activities. Social responsibility, self-satisfaction, etc., are the major types of non-economic activities.
10. Examples:
A teacher teaching in class.
A worker working in the mines.
An employee working to fulfill the company's goal.
Examples:
A woman cooking, doing laundry, etc.
A boy helping in the temple's rituals.
A man helping in the celebration of Diwali,
Explanation: