Q- What are the differences between Market and Non-market Activities?
1. Market Activities involves the remuneration paid to anyone who performs an activity for earning profit or pay.
2. Market Activities includes production of goods and services that included all the government services or jobs.
3. The Market Activities are done to earn profit.
4. Market Activities are included in National economy.
5. Ram has a buffalo to sell milk in the village. In this case ram is rearing or herding buffalo for the purpose of selling milk and earn profit. This is a Market Activity.
1. Non-market Activities are all those activities where production is for self-consumption.
2. The Non-market Activities involves all the activities that can be done for the consumption or procession of primary products for one’s own self.
3. The Non-market Activities are not done to earn profit. It is done for own purpose.
4. Ram has a buffalo whose milk he use for his family purpose. In this case ram is feeding buffalo for his and his family purpose. There is no relation of earning profit that is why this case is a Non-market activity.