Differentiate between economic and non-economic activities
CBSE Class 11
CBSE Class 11 Business Studies
2016-07-31 16:12:23 UTC
Basis of difference :
Economic activities : Economic activities are those activities which are performed to earn a livelihood.
Non-economic activities : Non-economic activities are those activities which are performed out of love, sympathy, sentiments, patriotism, etc
Economic activities : The main aim of these activities is to earn profits
Non-economic activities : The main aim of these activities is psychological satisfaction.
End result :
Economic activities : The end result of these activi-ties is to satisfy human need…
Non-economic activities :The end result of these activities is mental satisfaction of the person performing them.
Economic activities : A teacher, a carpenter,a doctor, an artist, etc
Non-economic activities : A teacher teaching her own son, a doctor treating poor patients without charging any fees, etc.