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Explain in detail the types of …

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Explain in detail the types of economic activities with example (6 marks)

Posted by Satish Yadav 5 years, 5 months ago

CBSE > Class 11 > Business Studies

3 answers

Sahil Saharan 5 years, 5 months ago

1. Business = It is an economic activity which is conducted on regular basis to earn profit through production ; sale of goods and services 2. Profession = It is an economic activity which is conducted on regular basis by a single individual having some special skills and knowledge

Yogita Ingle 5 years, 5 months ago

Three types of economic activities:

Business: Business refers to activities which are concerned with production, purchase, sale and supply of goods on a regular basis with a motive to earn profit. Examples: Factories, malls etc.
Profession: Profession refers to an occupation wherein individuals with specialised knowledge and qualification provide personalised and expert services to people to earn a living (by charging professional fees for their services). Examples: Medical practitioners, practising chartered accountants etc.
Employment: Employment refers to an activity in which individuals hired by organisations work regularly and receive remuneration (salary or wages) for their services in return. Example: Jobs in multinational companies, banks etc.

Satish Yadav 5 years, 5 months ago

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