Business- concept
Every human being, do perform some or the other activities to satisfy need . This activities performed by them can give them satisfaction or they could earn their livelihood. All those activities performed by human beings are known as human activities .
Human activities are divided into two parts :
1. Economic activities.
2.Non Economic activities.
* Economic activities: all those activities which are undertaken by human being in order to earn his livelihood and satisfy his or her needs are known as Economic activities.
* Non Economic activities : all those activities which are undertaken by human being to get physiological satisfaction and known as non economic activities. Non economic activities examples : Donating money for charity, spending on entertainment, relaxing etc
Economic activities are divided in three parts :
1. Business .
2. Profession.
3. Employment.
Let's discuss about them in details:
1. Business: Business refer to all those economic activities which include production , buying and selling or distribution of good and services on a regular basis with the sole motive of earning profits is known as business.
2. Profession: profession refers to all those activities which requires special knowledge and skill to be acquired by an individual those special knowledge and skills to be applied by an individual in his or her work to earn their livelihood is known as profession.
An profession is subject to code of conducts which is enforced by the professional body. The profession render services to people and in return take fee for their service provided .
3. Employment: Employment referred to all those activities which is performed by an individual on a regular basis for another person and receive money in return is known as Employment . The one who hired by others are known as employees and the one who hires are known as employer . Employees receive salary in return for the work for the company or Enterprise.
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