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Which of the following is a non-economic aspect of human welfare?

Answer and explanation

Correct answer: Mental peace

Human welfare has both economic and non-economic dimensions. Business profit, wage rates and export earnings are expressed through income, prices or market activity, so they are economic indicators. Mental peace is a quality-of-life condition that is not directly measured by a market price; therefore option C is the correct non-economic aspect of welfare.

Related tags

Mental PeaceNon-Economic WelfareQuality Of LifeGdp And WelfareNational Income And Related AggregatesEconomicsClass 11 Mcq

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