Question

Explain the following term

1. Economic activity
2. Non Economic activity ​

Answer 1

Economic Activity -:

1. Human beings are engaged in various activities throughout the day.

2. Some activities are done to earn money or livelihood.

3. These activities are called economic

activities.

4. Economic activities are of three types; they are business, employment, and profession.

5. Because of the economic activities a person can earn for himself and his family.

6. These activities are required for the survival of a human being.

Non Economic Activity -:

1. Human activities are divided into two types- economic and non-economic activities.

2. Non-economic activities are those which are conducted by a person to satisfy his non-monetary requirements.