Question

Whatisthedifferencebetweeneconomicandnon-economicactivities?​

Answer 1

Answer:

in simple words, economic actibities are activities which are performed with motive of earning money (job,business,etc.) whereas non economic activities are not performed with the motive of earning money (household chores, charity work,etc.)

Answer 2

Difference between economic and non economic activities are as follows:

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.