Economics is often understood as a science about money. Because of that, it may seem far removed from volunteering. But that is a misunderstanding. At its core, economics is about how individuals, organisations, communities, and societies use limited resources to meet relatively unlimited wants and needs. In that sense, volunteering is not outside economics at all. Every day, volunteers help meet needs that would otherwise remain unmet, whether in local communities or across the world.
This is also why economics can offer useful language for thinking about volunteering.
One example is the idea of potential output: the highest level of output that can be sustained over time. In standard economics, this is usually discussed at the level of whole economies. But the basic intuition is broader. Societies can increase what they are able to sustain over time, either by increasing the resources available to them, including human labour, or by using existing resources more effectively.