Chapter 13: The Value of Work
People work in many ways: some for money, some out of love and service. In this chapter we learn the types of economic activities and how people are paid, and discover why non-economic activities matter just as much.
In this chapter you will
- tell economic and non-economic activities apart
- explain salary, wage, fee, profit and payment in kind
- explain the value of sevā and community participation
Topics
- Types of Economic Activities NCERT 13.1
Economic activities earn money: salaries (monthly), wages (daily), fees (for services), profit (business), or payment in kind.
- The Importance of Non-Economic Activities NCERT 13.2
Non-economic activities like household work, caring and sevā create real value without money.
Key words
- Economic activity
- work that earns money or produces goods and services for money
- Salary
- a fixed payment for work, usually monthly
- Wage
- a payment for work, usually per day or hour
- Payment in kind
- payment in goods instead of money
- Sevā
- selfless service
Summary
- Economic activities earn money through salaries, wages, fees, profit or payment in kind.
- Non-economic activities are done out of love, care or service.
- Household work, sevā and community efforts create great value without money.