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What are the difference between market and non market activities?
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What are the difference between market and non market activities?
Differences between Market and Non-Market Activities


Market Activities



  • Definition: Market activities refer to economic transactions that involve the exchange of goods and services for money.

  • Participants: Market activities involve buyers and sellers who are motivated by self-interest and seek to maximize their utility.

  • Factors: Market activities are influenced by market forces such as supply and demand, price, competition, and government policies.

  • Examples: Examples of market activities include buying and selling goods and services, investing in stocks and bonds, and trading currencies.

  • Objective: The objective of market activities is to maximize profit or gain for the participants.

  • Regulations: Market activities are regulated by government agencies to ensure fair competition, prevent fraud, and protect consumer rights.



Non-Market Activities



  • Definition: Non-market activities refer to economic transactions that do not involve the exchange of goods and services for money.

  • Participants: Non-market activities involve individuals and organizations that are motivated by social, cultural, or political values rather than self-interest.

  • Factors: Non-market activities are influenced by non-economic factors such as social norms, ethics, and ideology.

  • Examples: Examples of non-market activities include volunteering, donating to charity, participating in political campaigns, and engaging in cultural activities.

  • Objective: The objective of non-market activities is to promote social welfare, cultural preservation, or political change.

  • Regulations: Non-market activities are not regulated by government agencies, but they may be subject to social or cultural norms and ethical standards.



Conclusion


In summary, market and non-market activities are two different types of economic transactions that have different motivations, factors, objectives, and regulations. While market activities are driven by self-interest and seek to maximize profit, non-market activities are motivated by social, cultural, or political values and seek to promote social welfare, cultural preservation, or political change.
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What are the difference between market and non market activities?
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What are the difference between market and non market activities?
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