Illustrate the difference between economic and non economic with examples in about 60 words
Answers
Answer:
Key Differences Between Economic and Non-Economic Activities
An activity performed gladly, with the aim of providing services without any regard to monetary gain is known as the non-economic activity. ... The measurement of economic activities is in monetary terms, whereas non-economic activities lack money measurement.
Explanation:
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Answer:
Economic activity is an activity of providing, making, buying or selling commodities or services by people to satisfy day-to-day needs of life. Any activity that includes manufacturing, distributing or utilising products or services.
Non-economic activity is an activity 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.