Question

Project on classification of family activities into monetary and non monetary activities

Answer 1

The non-monetary economy represents work such as household labor, care giving and civic activity that does not have a monetary valuebut remains a vitally important part of the economy.[1] While labor that results in monetary compensation is more highly valued than unpaid labor, nearly half of American productive work goes on outside of the market economy and is not represented in production measures such as the GDP.[1]

FunctionEdit

The non-monetary economy undertakes tasks that benefit society (whether through producing services, products, or making investments) that the monetary economy does not value.[2]
The non-monetary economy makes the labor market more inclusive by valuing previously ignored forms of work.[2][example needed] Some acknowledge the non-monetary economy as having a moral or socially conscious philosophy that attempts to end social exclusion by including poor and unemployed individuals, providing economic opportunities and access to services and goods.[3]Community-based and grassrootsmovements encourage the community to be more participatory, thus providing a more democratic economic structure.[1]



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