Login

difference between economic and non economic activities

 Economics is about the creation and distribution of wealth, and the satisfaction derived from it. So economic activity is anything that involves raw materials, methods of production, buying and selling, hoarding, saving, spending. That covers a lot of activity including growing your own vegetables and fruits, going shopping, travelling, mending your own clothes, opening a bank account, paying taxes - and of course going to work.

Non-economic activity is that which is undertaken for personal satisfaction not related to wealth. That means it will not make you richer and should not make you poorer either. In principle, this could involve hobbies that don't require buying and selling, religion, private interests and enthusiasms, enjoyment of family or pets or countryside or Art, reading and thinking, arguing and discussing with friends, disliking or even hating politicians. All of these activities are self-improving and give satisfaction whether you are rich or poor.

OK?

  • 59
View Full Answer
economic activities are done to earn more and more money. this sort of activities are not done because of love or affection but for personal intrest, whereas non economic activities are do for love, pleasure, sympathy, etc.
example for economic activities are :-
1. a doctor working at his clinic
2. a carpenter working at his workshop
example for non economic activities are :-
1. a child helping an old man cross the road


 
  • 47

Dear Student,

Sanju and Nishchal have given a correct answer to your question.

Thumbs from me to both of you.

Keep posting as your answers are very helpful to all.

Cheers!!

  • -19
What are you looking for?