Question

State two differences between Market and Non –Market activities​

Answer 1

$\pmb{\blue{\mathfrak{\underline{\bigstar \: {Answer:-}}}}} \:$

A market is nothing but a place where prospective consumers and distributors meet to exchange products and services. Both sides play an important role in fixing prices, where buyers decide the demand and sellers decide the resources.

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$\bf \underline{Market \: Activities :-}$

• It includes the payments made to someone who carries out an action to earn revenue.

• Market activities bring profit.

• Example: Service offered by the government.

$\bf \underline{Non-market \: activities :-}$

• In non-marketing activities, production is for self-consumption.

• Non-marketing doesn’t provide any benefit.

• Example: manufacturing of primary commodities for the manufacture of goods and self-service one’s own.

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