Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 2: Enterprise Planning (Types of Economic activities (Profession…
Unit 2: Enterprise Planning
Human life is built around work or activities
To fulfil their recurring needs and wants, every person is engaged in some kind of activity with a view to earn his living and satisfy the material and social requirements
Activity is thus, a symbol of Human Life
Economic Activities
Undertaken to earn monetary gains
Production
Distribution
Consumption of goods and services
Non- Economic Activities
done not for money
Types of Economic activities
Profession
Profession is that occupation in which one professes to have aquired
specialized knowledge
, which is
used either in instructing, guiding or advertising
- According to Webster's Dictionary
Examples:
Lawyers, Doctors, Charted Accountants, Company Secretaries, etc.
Thus, the occupation/activity which requires an individual to apply special knowledge and skills is said to be a profession
Employment
Employment refers to an activity in which an individual
works regularly
for others and
gets remuneration
in return, undertaking personal services as per the
agreement of employment
Business
This is our key area of study. An entrepreneur can be involved in manufacturing, trading or in service sector