Question

What is the difference between Economic and Non-Economic Activities.​

Answer 1

Explanation:

The activities which add value to the national income are called economic activities. In simple language we can say that those activities which are performed for money are called economic activities and those which are not performed for monetary gains are called non-economic activities.

ANSWER

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

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