what is the difference between economic activities and non economic activities
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Economic activities are those activities which are done for a livelihood
Whereas non economic activities are done for social,moral causes.
Economic activity always results in the production of goods and services.
Whereas non economic activity may /may not result in production of goods and sevices.
Economic activities add to the national income of the country.
Wheras non economic activities do not add to the national income of the country
Ex of economic activity - production in industries, providing transport, doctors, etc
Ex of non economic activity - cleaning our own house, giving charity, etc
Whereas non economic activities are done for social,moral causes.
Economic activity always results in the production of goods and services.
Whereas non economic activity may /may not result in production of goods and sevices.
Economic activities add to the national income of the country.
Wheras non economic activities do not add to the national income of the country
Ex of economic activity - production in industries, providing transport, doctors, etc
Ex of non economic activity - cleaning our own house, giving charity, etc
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3
The measurement of economic activities is in monetary terms, whereas non-economic activities lack money measurement. ... Economic activities result in creation and accumulation of wealth as they are done to earn profit. Unlike non-economic activities which result in mental satisfaction and happiness.
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