SELECT * FROM question_mgmt as q WHERE id=5369 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=2 AND subId=20 AND chapterId=209 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 11th business-studies Business, Trade and Commerce state the different types of economic activities

Question:

State the different types of economic activities.

Answer:

Different types of economic activities are:

  1. Business: Business is an human activity directed towards the acquisition of wealth through the production and exchange of goods and services. Business is an institution organised and operated to provide goods and services to society under the incentive of private gain.
  2. Profession: Profession is an occupation involving the provision of personal services of a specialised and expert nature. Example: Lawyer, doctor. Minimum educational qualification is required to practice a profession.
  3. Employment: It involves working under a contract of employment for or under someone known as the employer in return for wages or salary.


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