Question
Differentiate between economic and non-economic activities.
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Basis
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Economic activities
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Non-economic activities
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1.
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Meaning
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Economic activities are those which are performed to earn livelihood.
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Non-economic activities are those which are performed out of love, sympathy, care, affection, self-satisfaction, patriotism, etc.
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2.
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Purpose
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To earn money.
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To satisfy social and psychological needs.
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3.
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Examples
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A worker working in a factory, an entrepreneur performing entrepreneurial functions for production or trading of goods and services, etc.
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A teacher teaching her son, a person going to temple for offering prayers, etc.
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