what do you understand by people as resource ?what is the difference between economic and non economic activities
Answers
Explanation:
(1 )- People as a resource’ is a term that means how the population can be an asset and not a liability. It a way of referring to the working class of society in terms of their existing productive skills and abilities. The population becomes human capital when an investment is done in the form of education and training. Education and health also help human beings to be an asset to the economy. Thus, people as a resource refers to the working population that results in the development of society
(2 )- Economic activities:
1) Economic activities refers to a human activity related to production & consumption of goods & services for economic gain.
2) Economic motive is to earn money.
3) Money is measured in monetary terms.
4) It results in creation of wealth & assets.
Non-economic activities:
1) Non-economic activity refers to a activity performed with the aim of providing services to others without any regard to monetary gain.
2) Non-economic motive is social or psychological.
3) Money lacks in measurement.
4) It results in satisfaction & happiness