Types of human activities

April 16, 2020

Good morning boys! Let us move to our first main topic which is TYPES OF ECONOMIC ACTIVITIES.

Learning Objectives- At the end the topic, students will be able to:
1) State the types of human activities.
2) Explain the types of human activities.
3) Differentiate between the types of human activities

Please note the following in question- answer form in your registers:

Q.1 What are the types of human activities? Explain them. (3)
Ans-1) Human activities can be categorised as economic and non economic activities .
2) Economic Activities are undertaken with an objective of earning money or for financial gain. For example- Ayushman wishes to earn money by doing business where as Asif wants to earn by becoming a lawyer .
3)Non economic activities are undertaken without any expectations of any kind of monetary reward or benefit. They are influenced by  love,  sympathy,  pleasure,  emotions, etc. For example-
 Sana wishes to teach lesser privileged children in her free time. She is doing so out of sympathy.

Q.2 Differentiate between economic and non economic activities. (5) ( Write in tabular form)( You have to make three columns, first one for Basis, second one for Economic Activity and third one for Non Economic Activity.)
Ans- 1) Definition - Economic activities are those activities which are undertaken to earn money or financial gain for livelihood .For example- Fruit seller selling fruits. Non economic activities are those activities which are undertaken for the sake of pleasure, performed out of love , sympathy, sentiments, etc. For example - Mother cooks food for her family.
2) Motive- Sole motive of economic activity is to earn money or financial gain. Sole motive of non economic activity is satisfaction of social,  psychological or emotional needs.
3) Relationship - Economic activities are related to creation of wealth whereas  non economic activities do not create wealth.
4) Outcome - All economic activities result in production , procurement,  distribution and consumption of goods and services. The end result of a non economic activity is the mental, emotional or psychological satisfaction of the person doing the activity.
5) Duration-  Economic activities are repetitive .They are done on a regular basis to earn a living . Non econmic activities may not be undertaken regularly. They are done during free time.

Q.3 What are the types of economic activities? (1)
Ans- 1. Business
2. Profession
3. Employment.

Please revise till this topic. Tommorrow we will differentiate between the types of economic activities.