Understanding Economic and Non-Economic Activities

The video explains economic activity as actions involving the production, distribution, or consumption of goods and services, which are essential for earning income or wealth. It contrasts economic activities with non-economic activities, which do not involve monetary exchange, such as hobbies or voluntary work. The video also highlights the purpose of economic activities, which is to produce goods and services for consumers.

What is considered an economic activity?

• Birdwatching

• Selling goods

• Helping a friend study

• Praying in a temple

Which of the following is an example of a non-economic activity?

• Meditating in a temple

• Balancing the books as an accountant

• Visiting customers as a salesperson

• Working in a factory

What distinguishes non-economic activities from economic ones?

• They involve the exchange of money

• They are performed for personal satisfaction without monetary gain

• They are always related to business

• They require a formal education

What is one of the main goals of economic activities?

• To meditate and find peace

• To produce goods and services for consumers

• To engage in hobbies

• To help friends without expecting anything in return

Which of the following is NOT an economic activity?

• Receiving wages for work

• Selling products

• Running a business

• Doing crosswords

How can economic activities be simply defined?

• Activities undertaken to earn income, money, or wealth

• Activities that are purely spiritual

• Activities done for leisure and relaxation

• Activities that involve no exchange of goods or services