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

Question.

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


Solution:

Activities that add value to the national income are called economic activities. These have two parts − market activities (production for pay or profit) and non-market activities (production for self consumption).

Non-economic activities are the ones that do not add to the national income; for example, an individual performing domestic chores.

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