Although praxeological terminology obviously derives from economics, the concepts are not limited to activities that we customarily think of as "economic" or "productive." All human action, including leisure activity, is directed toward the fulfillment of the individual's purposes. Even if an activity is thought of as non-goal-oriented and pursued purely for immediate enjoyment, that enjoyment requires the allocation of valuable human time and effort (i. e., labor), natural resources (i. e., land), and often previously produced goods (i. e., capital). The activity is pursued only because the derived satisfaction fulfills the individual's purposes to a greater degree than would have been possible if the time, energy, and other factors had been otherwise used.      Next page
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