How non economic wants promotes social welfare?
Answers
An increase in real output and real incomes suggests people are better off and therefore there is an increase in economic welfare. However, economic welfare will be concerned with more than just levels of income. ... These quality of life factors are important in determining economic welfare.
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Non-economic activities
Explanation:
Non-economic activities are activities that are performed with the purpose of rendering services to others without any consideration to financial gain. Those activities which are initiated for personal content or to meet human sentiments are non-economic activities.
These can be activities like hobbies, cultural or religious activities, activities due to family commitment or social welfare activities. Social welfare activities are based on a passionate feeling to help or sympathize towards others. These are donations to the underprivileged, participation in relief camps to help people affected by war, natural calamities, help cleaning a water body, etc.