Question

Distinguish between economic and non-economic activity. 

Distinguish between economic and non-economic activities. Give suitable examples.

Answer 1

Sr. No.	Points	Economic activities	Non-economic activities
1.	Definition	Economic activities are actions performed to earn income or financial gain for livelihood.	Non-economic activities are actions performed for personal satisfaction, love, sympathy, or pleasure, without any intention of earning money.
2.	Motive	The main motive is to earn money or financial gain.	These activities are carried out to satisfy social, psychological, or emotional needs.
3.	Money measurement	All economic activities can be measured in monetary terms.	Non-economic activities cannot be measured in monetary terms, as they express feelings, emotions, or gestures.
4.	Relationship	Economic activities are related to the creation of wealth.	Non-economic activities do not create wealth.
5.	Outcome	All economic activities result in the production, distribution, and consumption of goods and services.	The outcome of non-economic activities is the mental, emotional, or psychological satisfaction of the person performing them.
6.	Example	A software engineer working for a salary; a chef cooking in a hotel.	A father teaching his son at home; washing a father’s car; social work done without pay.