Question

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Difference between

1 ) Market and Non-Market activites
2 ) Disguised and Seasonal Unemployment

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Answer 1

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Differences between market activities and non-market activities:

Market activities

• Market activities involve remuneration to any one who performs, i.e., activityperformed for pay or profit.
• These include production of goods or services including government service.

Non- market activities

• Non-metal activities are the production for self-consumption
• These can be consumption and processing of primary product and own account production of fixed assets

Explanation:

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Answer 2

a) Market activity involves an individual and a seller whereas Non market activity involves an individual and a buyer.

Market is taken by an individual who is willing to accept payment for his or her goods whereas the market is not involved in Non market activity.

Market activities are taken at the centre whereas non market activities are always taken at the periphery of the economy.

Value added in this process is known as surplus or profit (meaning profit for the market participants). This profit will be calculated as total sales minus total cost in domestic currency of equivalent goods.

Market activity is focused on the function of consumption of goods/products whereas non market activity is focused on production of goods/products.

Due to transactions of the market, value may be added or subtracted depending upon how much is sold by the individual. Similarly, value may be added or subtracted depending upon how much is bought by other individuals from whom goods have been procured. This adds and removes value in use and exchange.

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