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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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What are the difference between market and non market activities? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about What are the difference between market and non market activities? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What are the difference between market and non market activities?.
What are the difference between market and non market activities? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about What are the difference between market and non market activities? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What are the difference between market and non market activities?.
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