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What may be included in non-economic welfare?

Answer and explanation

Correct answer: Social security and mental peace

Non-economic welfare includes valuable conditions that may not be bought or sold and may not have a directly measurable market price. Social security can provide protection and stability, while mental peace contributes to life satisfaction. Therefore, option C is correct. Market price, wages and business profit are monetary or economic measures, not complete examples of non-economic welfare.

Related tags

Non-Economic WelfareSocial SecurityMental PeaceQuality Of LifeGdp And WelfareNational Income And Related AggregatesEconomicsClass 11 Mcq

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