Difference Between Economic and Non-Economic Activities ~ University Notes

Difference Between Economic and Non-Economic Activities

BASIS FOR COMPARISON	ECONOMIC ACTIVITY	NON-ECONOMIC ACTIVITY
Meaning	Economic activity refers to a human activity related to production and consumption of goods and services for economic gain.	Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain.
Motive	Economic, i.e. to earn money.	Social or psychological, i.e. out of love, affection, etc.
Money measurement	Measured in monetary terms.	Lacks money measurement.
Approach	Pragmatic	Idealistic
Results in	Creation of wealth and assets.	Satisfaction and happiness.
National Income	Adds value to national income.	Does not affects national income.