what is the difference between economic activities and non economic activities
Answers
Explanation:
Difference Between Economic and Non-Economic Activities
Last updated on October 14, 2017 by Surbhi S
economic vs non-economic activitiesEvery human being keeps himself occupied in some activity to satisfy human wants; such activities are known as human activities. These activities are broadly classified as economic and non-economic activities. While economic activities are those conducted with an aim of earning money or acquiring wealth, non-economic activities are performed free of cost, with service motive.
The main difference between economic and non-economic activities lies in the fact that the economic activities are carried out to satisfy human needs, whereas non-economic activities are performed for gaining psychological satisfaction. So, check out this article to get some more differences amidst these two types of human activities.
Answer:
Answer:Every human being keeps himself occupied in some activity to satisfy human wants; such activities are known as human activities. These activities are broadly classified as economic and non-economic activities. While economic activities are those conducted with an aim of earning money or acquiring wealth, non-economic activities are performed free of cost, with service motive.
Economic activity:
1. Activities which are related to the production and consumption of goods in return for money.
2. The main motive is to earn money.
3. It is added to the national income.
4. Example: A shopkeeper sells goods and gets money for it. An employee works in an office and gets paid.
Non-economic activity:
1. The activities which are done out of one’s own will and not to earn money.
2.The motive can be social or psychological. Out of love, satisfaction, happiness.
3. It is not added to the national income.
4. Example: Anyone who works at an NGO out of one’s own will without getting paid.