What is the difference between the difference between Economic activities and Non-economic activities?
Answers
Explanation:
Economic activity refers to a human activity related to production and consumption of goods and services for economic gain. Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain.
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Explanation:
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.