Question

What is the difference between economic activities and non-economic activities?

Answer 1

Economic and non-economic both are considered as part of the business.

What is business?

Business is defined as an economic activity that comprises of the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy the needs of customers. Businesses can be run by both profit or non-profit organizations that function to gain profits or achieve a social cause respectively.

The difference between economic activities and non-economic activities is tabulated below
BASIS	ECONOMIC ACTIVITIES	NON-ECONOMIC ACTIVITIES
(1) Meaning	Activity performed to earn a livelihood.	That activity is performed out of love, sympathy, sentiments, patriotism, etc.
(2) Purpose	Undertaken to earn money and satisfy physiological needs.	Undertaken to satisfy psychological or emotional needs.
(3) Types	Business, profession, and employment.	Social responsibility, religious responsibility, personal satisfaction, etc.
(4) Benefits	Money and wealth.	Self-satisfaction.
(5) Examples	A worker working in a factory.	A boy helping an old man to cross the road.