Question
Explain the difference between economic and non – economic activities.
| Economic activity | Non-economic activity |
| $1.$ An activity performed with the purpose of obtaining economic benefits in the form of income is called economic activity. | $1.$ An activity which is done without the purpose of obtaining economic gains is called non economic activity. |
| $2.$ Objective of making economic gains, satisfaction of some want and involvement of exchange and cost are important aspects of an economic activity. | $2.$ Unlike economic activities, such activities do not involve exchange of benefits on both sides of the transaction. |
| $3.$ Activities done by farmers, lawyers, teachers, actors, government, etc. are all example of economic activities. | $3.$ Charitable activity, or activities done out of love, affection, compassion, such as social service, mother teaching her son, etc. are all non economic activities. |
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