Question

what is the difference between economic and non economic activity answer in point

Answer 1

Basis of difference :
1. Meaning :
Economic activities : Economic activities are those activities which are performed to earn a livelihood.
Non-economic activities : Non-economic activities are those activities which are performed out of love, sympathy, sentiments, patriotism, etc


2. Aim :
Economic activities : The main aim of these activities is to earn profits
Non-economic activities : The main aim of these activities is psychological satisfaction.


3. End result :
Economic activities : The end result of these activi-ties is to satisfy human need..
Non-economic activities :The end result of these activities is mental satisfaction of the person performing them.


4. Examples :
Economic activities : A teacher, a carpenter,a doctor, an artist, etc
Non-economic activities : A teacher teaching her own son, a doctor treating poor patients without charging any fees, etc.

Hope this helps! Plz mark as brainliest! Thanks :)

Answer 2

The difference between economic and non-economic activities can be drawn clearly on the following grounds:

1 An activity related to production and consumption of goods and services for economic gain is known as economic activities.
2 An activity performed gladly, with the aim of providing services without any regard to monetary gain is known as the non-economic activity.Economic activities are performed for economic motive, i.e. earning profit.
3 On the other hand, non-economic activities are performed due to social or psychological reasons, i.e. out of love, affection etc.
4 The measurement of economic activities is in monetary terms, whereas non-economic activities lack money measurement.
5 Economic activities have a pragmatic approach, in essence, it deals with things in a practical way.
6 As against this, non-economic activities have an idealistic approach wherein more importance is given to human values instead of money.
7 Economic activities result in creation and accumulation of wealth as they are done to earn profit.
8 Unlike non-economic activities which result in mental satisfaction and happiness.Economic activities are very important for the economy as they add value to the country’s gross domestic product (GDP).
9 As opposed to non-economic activities, which have no influence over country’s national income.