Question
How are economic activities different from non-economic activities?

Answer

The differences between economic and non- economic activities are as follows
Economic activitiesNon-economic activities
These activities are performed in exchange for money or money's worth.These activities are performed out of love, care, gratitude, or social service and do not generate monetary value.
For example, a businessperson selling school bags in the market, a farmer selling produce in the market, a lawyer arguing a case and earning a fee.For example, parents cooking food for the family, family members helping with household chores, youth taking care of grandparents.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free