The key differences between economic activities and non-economic activities are as follows:
1. Meaning
Economic Activities: Activities performed for economic gain.
Non-economic Activities: Activities which are not performed for economic gain or income. They do not give any financial return.
Economic Activities: There are performed to earn profit or earn a livelihood.
Economic Activities: Creation of monetary income.
Economics Activities: In terms of money.
2. Objective
Economic Activities: There are performed to earn profit or earn a livelihood.
Non-economic Activities: These are performed for self-satisfaction only.
3. Expectation
Economic Activities: Creation of monetary income.
Non-economic Activities: No expectation of monetary income, only psychological satisfaction.
4. Measurement
Economics Activities: In terms of money.
Non-economic Activities: Cannot be measured in monetary terms.
5. Outcome Or Result
Economic Activities: Satisfaction of human needs through wealth and income.
Economic Activities: Performed regularly to satisfy one's financial needs.
Economic Activities: These activities affect national income of the country.
Economic Activities: Business, profession, employment etc.
5. Outcome Or Result
Economic Activities: Satisfaction of human needs through wealth and income.
Non-economic Activities: Mental satisfaction and personal pleasure.
6. Duration
Economic Activities: Performed regularly to satisfy one's financial needs.
Non-economic Activities: Performed for limited time or during spare time only.
7. Impact In National Income
Economic Activities: These activities affect national income of the country.
Non-economic Activities: These activities do not make any impact to national income.
8. Examples
Economic Activities: Business, profession, employment etc.
Non-economic Activities: Domestic work, social services etc.
