Market and Non-market activities are the two types of ____ activities.

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Detailed Solution

Market and Non-market activities are the two types of Economic activities.
Market activities are the production of goods and services that guarantee a payment or remuneration to the one who performs them. On the other hand, non-market activities are carried out for self-consumption purposes, like the consumption of primary products and fixed assets for self-requirements. Non-economic activities do not add value to the national income but help to improve people's quality of life. For example, in social work, assisting a differently-abled person to read and write is carried out by workers to enable the differently-abled to lead a normal life without any difficulties. Non-economic activities are not liable to generate a profit or payment to the person performing them.

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