The distinction between economic or free goods and non-economic goods are as follows:
| Economic Goods | Non-Economic Goods |
| 1. These goods are limited in supply. | 1. These goods are available in abundant amount. |
| 2. These goods command price. To obtain such goods, one has to pay price. | 2. These goods do not command any price. These are available free of cost. |
| 3. Economic goods are man-made. | 3. These are free gifts of nature. |
| 4. Scarce resources are used to produce such goods. | 4. No such resources are required in their production. |
