Meaning of Economic and Non-Economic Activity
Economic Activity:
- Economic activity refers to any activity that involves the production, distribution, and consumption of goods and services to satisfy human wants and needs.
- These activities are undertaken with the primary motive of earning a profit or income.
- Economic activities contribute to the overall growth and development of the economy.
- Examples of economic activities include manufacturing, agriculture, mining, retail, transportation, banking, etc.
- These activities are usually measured in terms of monetary value.
Non-Economic Activity:
- Non-economic activities are those activities that are undertaken without any intention of earning a profit or income.
- These activities are usually based on social, cultural, or personal motives.
- Examples of non-economic activities include volunteering, household chores, leisure activities, religious practices, etc.
- Non-economic activities do not contribute directly to the economy's GDP but play a crucial role in social well-being and personal development.
- These activities are not usually measured in monetary terms.

Differences between Economic and Non-Economic Activity
- Economic activities are undertaken for the purpose of earning a profit or income, while non-economic activities are undertaken for social, cultural, or personal reasons.
- Economic activities contribute directly to the economy's growth and development, while non-economic activities focus on personal well-being and social harmony.
- Economic activities are usually measured in monetary terms, whereas non-economic activities are not easily quantifiable in monetary terms.
- Both economic and non-economic activities are essential for a balanced and harmonious society.