what is the difference between economic and non economic activities?
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Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain.
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Economics tends to look at things in a broader scope and analyzes the relationships of many factors to each other. You will notice that business focuses on accounting profit whereas economics appreciates economic profit. ... Economics tends to be more theoretical whereas Business Administration is more practical.
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Business activities are classified into two categories and that is “commerce” and “industry”. Industry is about manufacturing of goods whereas commerce is about distribution of those goods. ... So, trade is a subset of commerce. Trade is termed as the buying and selling products or services in exchange for currency.
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is that occupation is an activity or task with which one occupies oneself; usually specifically the productive activity, service, trade, or craft for which one is regularly paid; a job while business is (countable) a specific commercial enterprise or establishment.
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Economic activities are mostly divided into four large types. These types are the primary, secondary, tertiary, and quaternary activities.
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Natural science is a subject which deals with the natural environment of earth. Economics is a social science which details about the economy and its effect and impact on the society. ... The subject is therefore often identified as a part of social science and not a branch of natural science, chemistry or mathematics.
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Economic activities are those activities which add value to the national income. It has two types: market and non-market activities. Non-market activities; these activities are performed for self consumption.
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Business is an economic activity concerned with the production or purchase and sale of merchandise and rendering of services with the purpose of earning profit. Profession is a form of economic activities, wherein special skills, knowledge and expertise is required to be applied by the person, in his occupation.
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Operating expenses are all the costs you incur to bring a product or service to market. Non-operating expenses are costs that are not related to normal business operations, such a relocation costs or paying off a loan.
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Business is the whole process of Trade and Commerce . ... Trade focuses on only buying and selling. Commerce focuses on buying selling along with other activities such as insurance , transportation, warehousing , advertising etc. ... Trade is related to buying and selling of goods and services.
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Economic Development is a broader concept than the Economic Growth. Economic Development refers to the increase of the Real National Income of the economic and socio-economic structure of any country over a long period of time. ... Economic Growth can be measured through an increase in the GDP, per capita income, etc.
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As adjectives the difference between economic and fiscal is that economic is pertaining to an economy while fiscal is related to the treasury of a country, company, region or city, particularly to government spending and revenue.
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Accounting and economics both involve plenty of number-crunching. But accounting is a profession devoted to recording, analyzing, and reporting income and expenses, while economics is a branch of the social sciences that is concerned with the production, consumption, and transfer of resources.
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Non-plan expenditure is what the government spends on the so-called non-productive areas, such as salaries, subsidies, loans and interest, while plan expenditure pertains to the money to be set aside for productive purposes, like various projects of ministries.
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Businesses provide goods and services that drive economic output. While business deals with selling product or services to a consumer, economics deals with supply and demand of all products in the country. They are related since performance of business in general affect economy at large.
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As adjectives the difference between physical and nonphysical. is that physical is having to do with the body while nonphysical is not physical; not using kinetic energy.
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So what's the difference? Activity is the art of doing many things. On the other hand, productivity is the art of doing the right things. Productivity is about doing the right things that move a particular goal forward.