Question

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

Answer 1

Economic activities:
(i) It involves raw material, methods of production-buying and selling, saving, spending, etc.
(ii) It covers a lot of activities including shopping, travelling, opening of a bank account, growing vegetables and fruits, etc. For example, a doctor working at his clinic.
Non-economic activities:
(i) It includes those activities which are undertaken for personal satisfaction. This means that these activities are not related to wealth. It won't make you richer or poorer.
(ii) It includes hobbies that are done for one's personal interest.
(iii) For example, a child helping an old man to cross the road.