Economic activities are undertaken with the objective of earning income or generating wealth. They involve utilizing resources such as land, labor, capital, and entrepreneurship to produce goods and services for sale or consumption in markets, often involving monetary transactions. Examples include production, distribution, trade, and services aimed at earning a livelihood.

Non-economic activities, in contrast, are not driven by monetary gain and do not involve market transactions. These activities lack the primary objective of wealth creation and include pursuits like household chores, hobbies, volunteering, social services, and leisure activities, often undertaken for personal fulfillment, social well-being, or community welfare without direct financial motives.