Question

write difference between economic and non economic activity​

Answer 1

$\huge\color{pink}\boxed{\colorbox{purple}{Answer:-}}$

$\mathfrak{Economic activities:-}$

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.

$\mathfrak{Non-economic activities:-}$

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.

$\huge\color{pink}\boxed{\colorbox{purple}{Explanation:-}}$

1. Meaning of $\tt\pink{Economic activities:}$

Occupations, jobs, or activities which are performed by the people with the purpose of obtaining profit are called economic activities. The purpose of these activities is to create wealth or assets for the business.

$\huge\mathfrak\purple{For Example}$

The production sector where goods are produced to earn profit/income. like the Producers produce Maggi, chips, and coke, etc.

2. Meaning of$\tt\pink{ non-economic activities:}$

Activities that are related to the psychological satisfaction of the people are known as non-economic activities. The result of these activities is not to create wealth but it gives mental satisfaction. Such kind of activities provides happiness and peace to the people.

$\huge\tt\orange{For example:-}$

Paying charity, social service(providing food to below poverty line people.

Providing shelter to homeless people), any work related to the safety of the environment.

It also includes family-oriented activities(helping family members in their work).

$\huge\colorbox{cyan}{Thank you}$