Write the Difference Between Market and Non Market Activities
By Balaji
Updated on: February 17th, 2023
The Difference Between Market and Non Market Activities depends on whether the activities involve trading goods or services or not. The market activities involve trading for money. In contrast, non-market activity is done for self-consumption and not to make a profit or engage in business. A market is a place where consumers and sellers engage in the trading of various products and services.
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1. Difference Between Market and Non Market Activities
Difference Between Market and Non Market Activities
Market activity refers to the situation in which a consumer exchanges money for a good or service. On the other hand, no such exchange is involved in non-market activities.
- A market is a place where prospective customers and distributors encounter to trade products and services.
- Consumers determine the need, and vendors choose the resources.
Market vs Non-Market Activities
Here, we have discussed the Difference Between Market and Non Market Activities:
| Market Activities | Non-Market Activities |
| Activities involving the exchange of goods or services for monetary compensation. | Activities in which no goods or services are exchanged. |
| Market activities aim to earn revenue or buy a good or service. | The purpose of non-market activities is self-consumption. |
| Earning profit can be the result of market activities. | Profit cannot be earned through non-market activities. |
| Example: Buying and selling textiles. | Example: Cultivating crops for personal consumption. |
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