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Difference between :I. Market and Non- market activity II. Economic and non economic activities |
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Answer» \tBASISECONOMIC ACTIVITIESNON-ECONOMIC ACTIVITIES(1) MeaningActivity performed to earn a livelihood.That activity is performed out of love, sympathy, sentiments, patriotism, etc.(2) PurposeUndertaken to earn money and satisfy physiological needs.Undertaken to satisfy psychological or emotional needs.(3) TypesBusiness, profession, and employment.Social responsibility, religious responsibility, personal satisfaction, etc.(4) BenefitsMoney and wealth.Self-satisfaction.(5) ExamplesA worker working in a factory.A boy helping an old man to cross the road.\t \tMarket ActivitiesNon-market Activities1. Market activities involve remuneration to any one who performs, i.e., activity performed for pay or profit.1. Non-metal activities are the production for self-consumption.2. These include production of goods or services including government service.2. These can be consumption and processing of primary product and own account production of fixed assets.\t 1) Market activity involved those activities which are performed basically for the purpose of the sale in the market and that include profit. The main motive of doing such activities to earn money by selling the output in the market. Whereas non market activities are those activities primarily undertaken for the purpose of self consumption. This activity don\'t give profit as they are for self consumption.2) It includes the production of goods and services including the government services whereas it neither for sale in the market nor for earning profit . This activity can\'t be for construction and processing of primary products for one\'s own use.3) Example- a vegetable vendor selling vegetables, a shoemaker selling shoes. Whereas example- a farmer cultivate primarily for himself and his family and not for earning profit . |
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