Question

What is economic and non economic activity? Explain with illustration

Answer 1

Answer:

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.

Answer 2

Answer:

economic activities are all those activities which have money value.

A teacher going to school to teach will be an economic activity whereas if she teaches her son at home this will be considered as non economic activity.