explain the difference between me ecnomi and non economic?
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Answer:
Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain.
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Asked on November 22, 2019 by
Adeeba Dagha
What is the difference between economic activities and non-economic activities?
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ANSWER
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.