Question
Differentiate between economic and non-economic activities.
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S. No.
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Basis
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Economic
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Non-economic
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1.
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Meaning
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Those activities whose aim is to earn money.
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Those activities whose aim is not to earn money, and to create wealth, but to satisfy social, psychological and emotional needs.
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2.
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Example
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A teacher teaching in a school. People working in factories.
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A teacher teaches his/ her son/ daughter at home. A housewife cooks food for her family.
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Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
(i) Identify this type of retail business.
(ii) Explain two advantages and two limitations of them.
The NMDC is actively involved in the exploration of a wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.
On the basis of the given information about National Mineral Corporation of India, answer the following questions:
(a) Identify the types of industry and its category being discussed in above case.
(b) Mention the other industry which falls in same category and give two examples.