Differentiate between economic and non-economic activities

Answer

Basis of difference :
  • Meaning :
    1. Economic activities : Economic activities are those activities which are performed to earn a livelihood.
    2. Non-economic activities : Non-economic activities are those activities which are performed out of love, sympathy, sentiments, patriotism, etc

  • Aim :
    1. Economic activities :
    The main aim of these activities is to earn profits
    2. Non-economic activities : The main aim of these activities is psychological satisfaction.

  • End result :
    1. Economic activities :
    The end result of these activi-ties is to satisfy human need…
    2. Non-economic activities :The end result of these activities is mental satisfaction of the person performing them.

  • Examples :
    1. Economic activities :
    A teacher, a carpenter,a doctor, an artist, etc
    2. Non-economic activities : A teacher teaching her own son, a doctor treating poor patients without charging any fees, etc.

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