Question

What is the basis of differentiating between economic and non.economic activities? Classify the following activities as economic or non-economic:
(a) A property dealer selling house for commission
(b) A housewife doing household work at home
(c) A teacher teaching in the school
(d) A person offering prayer in the church.

Answer 1

The main difference between economic and non-economic activities is the end result of that activity. If the end result is earning money then it is economic activity and Wend result is psychological satisfaction then it is non-economic activity:
(a) Economic activity
(b) Non-economic
(c) Economic
(d) Non-economic.