Question

distinguish between economic and non-economic activities on the basis of purpose and outcome​

Answer 1

Answer:

Economic activities are performed for economic motive, i.e. earning profit. On the other hand, non-economic activities are performed due to social or psychological reasons, i.e. out of love, affection etc. ... Economic activities result in creation and accumulation of wealth as they are done to earn profit

Explanation:

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Answer 2

Explanation:

Economic activities:

1) Economic activities refers to a human activity related to production & consumption of goods & services for economic gain.

2) Economic motive is to earn money.

3) Money is measured in monetary terms.

4) It results in creation of wealth & assets.

Non-economic activities:

1) Non-economic activity refers to a activity performed with the aim of providing services to others without any regard to monetary gain.

2) Non-economic motive is social or psychological.

3) Money lacks in measurement.

4) It results in satisfaction & happiness.