Question

What do you understand by non-economic activities ? Explain any 4 difference between

economic and non-economic activities .


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Answer 1

Answer:

1. 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.

2.

Economic activity refers to a human activity related to production and consumption of goods and services for economic gain. Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain. Economic, i.e. to earn money. ... Lacks money measurement.