In Sahil’s case, a farm laborer typically receives payment in kind, which means compensation is provided through goods rather than cash. This could involve receiving a portion of the harvested crops, such as grains or vegetables, as payment for their ...
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Non-economic activities are still valuable despite not involving money because they contribute significantly to social cohesion, community well-being, and individual fulfillment. These activities, such as volunteering, advocacy, or cultural engagement, foster relationships, enhance social networks, and promote a sense of ...
The salary of a person involved in an economic activity is determined by several factors, including the individual’s skills, experience, and educational qualifications, as well as the demand and supply dynamics in the job market. Employers often consider the complexity ...
An activity that can be considered both economic and non-economic is community gardening. This activity involves individuals growing food or flowers collectively, which can lead to the economic benefit of selling surplus produce at local markets, thus generating income for ...
The main difference between economic and non-economic activities lies in their objectives and outcomes. Economic activities are primarily focused on the production, distribution, and consumption of goods and services with the aim of generating income or profit. Examples include manufacturing, ...