Economic Activities
Non-Economic Activities
1. If the activities are performed to earn money or a living then these are economic activities.
2. In case the activities are undertaken without the aim of earning money then these are non-economic activities.
Same activity can be economic as well as non-economic. For example, a doctor attending to a patient is an economic activity because doctor will charge fee for this work but when the same doctor is attending to his ailing daughter, this will become a non-economic activity. Similarly, a house wife preparing food at home is a non-economic activity and same person preparing food at a restaurant is an economic activity because this is done for a monetary gain.
Economic Activities Vs. Non-Economic Activities
Basis
|
Economic Activities
|
Non-Economic Activities
|
1.Objective
2.Expectation
3.
Money Measurement
4.
Duration
5.
End Result
6. Examples |
The main objective is to earn money Expectation is to earn money or profit These activities are measured in money or money's
worth These are performed regularly during the working
life of a person These activities
produce goods and services Worker working in a factory, doctor attending to patients or advocate attending the court |
The main objective is to get some sort of
satisfaction Expectation is to satisfy social, profit
psychological, emotional needs. These activities are not measured in money These are performed during spare time or leisure,
the period is limited These activities satisfy mental or emotional needs A teacher teaching his own son, a lady cooking for
the family, a doctor doing social service |