what is different between economic activities and non economic activities
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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.
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Answer:
ECONOMIC ACTIVITY NON-ECONOMIC ACTIVITY
Meaning 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.
Motive Economic, i.e. to earn money. Social or psychological, i.e. out of love, affection, etc.
Money measurement Measured in monetary terms. Lacks money measurement.
Approach Pragmatic Idealistic
Results in Creation of wealth and assets. Satisfaction and happiness.
National Income Adds value to national income. Does not affects national income.
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