Anonymous

What Is The Difference Between Economic And Non-economic Activities?

1 Answers

Connor Sephton Profile
Connor Sephton answered
Economic activities are related to monetary matters - in other words, they are all about dollars and cents. Examples of economic activities include accounting, budgeting, spending, charging (on credit), borrowing money, lending money, and overseeing financial accounts. Non-economic activities include anything that is not related to money - examples could include playing a board game (except, of course, for money-mad Monopoly, with its "play money"), playing with a child, taking a walk, or studying for a test at an elementary school.

  • These activities may overlap

Of course, non-economic and economic activities may overlap occasionally. Walking to the bank and smelling the roses along the way is a perfect hybrid of economic and non-economic activities. Most people do not live for money alone - however, money is necessary for survival in almost any society, except for primitive "barter" societies where commodities and other items are traded in lieu of spending actual money.

  • Learn about economic activities

To learn about economic activities, pick up a textbook on microeconomics - this textbook will outline some common activities related to finances and economics. Opening a bank account can also be a great way for a younger person to start performing economic activities, as long as they have advice and help from a mentor, parent, or guardian. Learning how to calculate interest and deposit and withdraw funds can be very important economic activities that help to build great financial habits for a lifetime.

There isn't too much to learn about non-economic activities, since you likely do hundreds of them every day; when you make your bed, cook dinner, or read to a child, you are doing non-economic activities. However, without cash or economic activities, you may not have the money to put sheets on your bed, launder those sheets, buy groceries and power up the stove, or buy a book to read to your child. There is always a balance and a delicate interplay between economic and non-economic activities.

Answer Question

Anonymous