Question

What is the difference between economic and non–economic activies

Answer 1

Economic activities:

1) Economic activities refers to a human activity related to production & consumption of goods & services for economic gain.

2) Economic motive is to earn money.

3) Money is measured in monetary terms.

4) It results in creation of wealth & assets.

Non-economic activities:

1) Non-economic activity refers to a activity performed with the aim of providing services to others without any regard to monetary gain.

2) Non-economic motive is social or psychological.

3) Money lacks in measurement.

4) It results in satisfaction & happiness

Answer 2

Your answer is.

1. Economic activities: The activities which are performed for the purpose of earning money are called economic activities.

For example : a teacher teaching in school.

2. Non - economic activities: These activities are performed to serve others . These activities are done out of compassion, love and care.

For example; a mother teaching his son at home, any social work.

Hope it helps!!!!