Business is an activity which involves production and distribution of goods and services, for profit.
The object of these activities is not to earn monetary gain or reward.People engage in non-economic activities for reasons of love, sympathy, religion, patriotism, etc. Solidarity means that citizens have a right to the service in question and the quality of the service they obtain is not linked to the price they pay, if any. Non-Economic Activities: Non-economic activities are those, which are inspired by many motives – other than earning money. These activities form a basis for the economic development of the country as it adds value to the gross domestic product.Economic activities are classified as business, profession and employment. Some Popular Variations of Non-Economic Activities may be: (i) Leisure-Time Activities: Whose aim generally is to derive pleasure in one’s idle time e.g. On the contrary, non-economic activities are not concerned with money or wealth.These activities are again divided into following groups: (i) Social Activities: For instance, attending marriage parties of relatives or friends, birthday parties, cultural festivals and programmes etc. The object of these activities is not to earn monetary gain or reward. The dividing line is not the activity or the person who is doing it but the objective for which it is undertaken.Thus, non-economic activities are undertaken due to the following considerations:PreserveArticles.com is an online article publishing site that helps you to submit your knowledge so that it may be preserved for eternity. But the result of non-economic activities cannot be measured in terms of money.The same activity may be economic as well as non-economic. Non-economic activities refer to a human activity undertaken sheerly out of love, affection, sympathy or patriotism. Types Any activity undertaken under the five sectors of a country’s economy, namely – primary, secondary, tertiary, quaternary and quinary sectors come under the purview of economic activities. All the articles you read in this site are contributed by users like you, with a single vision to liberate knowledge.Before publishing your Article on this site, please read the following pages:PreserveArticles.com is a free service that lets you to preserve your original articles for eternity.
For instance, painting and signing etc. Activities which are undertaken to satisfy social, religious cultural and sentimental requirements are called non-economic activities. People engage in non-economic activities for reasons of love, sympathy, religion, patriotism, etc. Our mission is to liberate knowledge. Non-Economic Activities. Activities which are undertaken to satisfy social, religious cultural and sentimental requirements are called non-economic activities. It includes all those activities which are performed for the satisfaction of human sentiments that can be social, religious, cultural, personal, recreational, charity, patriotic.The difference between economic and non-economic activities can be drawn clearly on the following grounds:With the above discussion, it is quite clear that the only aspect which distinguishes these two activities is the objective. Family-Commitment Activities – This activity is dedicated and inspired by family. non-economic activities are undertaken due to the following considerations: (i) Love and affection - for example taking dinner with the family, cooking food for family. The profession is related to the services provided by profession for monetary compensation called fee. These activities are conducted voluntarily with an aim of rendering services to others for free, i.e. The primary objective of economic activities is to earn livelihood and create wealth.On the other hand, the main objective of non-economic activities is to get some sort of social, cultural, religious or recreational satisfaction.The output of economic activities can be measured in terms of money e.g., the salary of a teacher, the fee of a doctor and the profits of a businessman. by Phedon Nicolaides, 10.03.2015 . Health insurance which is based on the principle of social solidarity is not economic in nature. These activities are conducted voluntarily with an aim of rendering services to others for free, i.e. The main difference between economic and non-economic activities lies in the fact that the economic activities are carried out to satisfy human needs, whereas non-economic activities are performed for gaining psychological satisfaction.
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