Distinguish between economic and non economic …
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Sia ? 4 years, 5 months ago
Welfare is the well-being or satisfaction that is experienced by a person.
Human welfare is classified as economic welfare and non-economic welfare.
Economic welfare is the part of total human welfare which can be measured in terms of money.
Non-economic welfare is the one which cannot be measured in terms of money such as environment, law and order, and social relations.
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