(i) All activities that give an income in return are called economic activities.
(ii) Example-people going for work in factories, farms, banks, hospitals, schools, etc.
(iii) It gives monetary benefit in return.
(i) All activities which do not give any income in return are called non-economic activities.
(ii) Example-doing social work, helping the poor, going to temple, etc.
(iii) It gives mental satisfaction in return.