Question

Distinguish between economic and non-economic activity. 

Answer 1

		Economic Activities	non-economic Activities
1.	Definition	Economic activities are those activities that are undertaken to earn money or financial gain for livelihood.	non-economic Activities are those activities that are undertaken for the sake of pleasure, performed out of love, sympathy, sentiments, etc.
2.	Motive	The sole motive is to earn money or financial gain.	Undertaken for the satisfaction of social, psychological, or emotional needs.
3.	Money Measurement	All economic activities can be valued in monetary terms.	Non-economic activities cannot be valued in monetary terms. These are an expression of thoughts, feeling or a gesture.
4.	Relationship	Economic activities are related to the creation of wealth.	Non-economic activities do not create wealth.
5.	Outcome	All economic activities result in the production, procurement, distribution, and consumption of goods and services.	The end result of a Non-economic activity is the mental, emotional, or psychological satisfaction of the person doing the activity.