ANY ACTIVITY WHICH IS DONE FOR THE MONETARY CONSIDERATION OR FOR ECONOMICS GAINS IS TERMED AS ECONOMIC ACTIVITY. ALL ECONOMIC ACTIVITY CAN BE TERMED AS PRODUCTIVE ACTIVITIES.

1. NATURE, PURPOSE AND
SCOPE OF BUSINESS
DAILY DOT

2. ECONOMIC ACTIVITY
 ANY ACTIVITY WHICH IS DONE FOR THE MONETARY CONSIDERATION
OR FOR ECONOMICS GAINS IS TERMED AS ECONOMIC ACTIVITY.
 ALL ECONOMIC ACTIVITY CAN BE TERMED AS PRODUCTIVE ACTIVITIES.
 A PERSON DOING A ECONOMIC ACTIVITY SATISFIES THE NEED OF
OTHERS AND GET BENEFITS FOR HIM.

3. NON-ECONOMIC ACTIVITY
 ANY ACTIVITY WHICH IS DONE WITHOUT THE MOTIVE OF MONETARY
CONSIDERATION OR ECONOMICS GAINS IS TERMED AS NON-
ECONOMIC ACTIVITY.
 THE FACTORS FOR DOING THIS ACTIVITY IS SOCIAL SERVICE.
 THIS ACTIVITY IS BEEN CARRIED OUT WITH THE FEELING OF LOVE,
AFFECTION, AND COMPASSION.

4. DIFFERENCE BETWEEN ECONOMIC AND
NON-ECONOMIC ACTIVITY
POINT OF
DIFFERENCE
ECONOMIC ACTIVITY NON-ECONOMIC ACTIVITY
OBJECTIVE
EXPECTATION
TYPE
RISK AND
UNCERTANITY
MOTIVE IS TO GET ECONOMIC BENEFIT.
PROFIT, SALARY, WAGES, AND
MAXIMISATION OF WEALTH.
BUSINESS , PROFESSION AND
EMPLOYMENT.
THERE REMAIN RISK AND
UNCERTANITY.
MOTIVE IS SOCIAL SERVICE,
SERVICE TO COUNTRY.
SOCIAL SERVICE OR SERVICE
TO COUNTRY.
NO TYPE
THERE IS NO RISK AND
UNCERTANITY.

5. TYPES OF ECONOMIC ACTIVITY
 BUSINESS MEANS ANY LEGAL ECONOMIC ACTIVITY WITH THE OBJECTIVE
OF PROFIT.
 SOME TIME THERE IS A LOSS IN A BUSINESS BUT THEN ALSO IT IS TEREMD AS
BUSINESS.
 BUSINESS IS CARRIED OUT WITH THE MOTIVE OF PROFIT.

6. CHARACTERISTICS OF BUSINESS
 THE FOLLOWING ARE THE CHARACTERISTICS OF BUSINESS-
 REQUIREMENT OF MONEY
 ECONOMIC ACTIVITY
 CONTINUANCE OF ACTIVITY
 RISK AND UNCERTANITY
 EXCHANGE OF GOODS AND SERVICE
 CREATION OF UTILITY
 OBJECTIVE OF PROFIT

7. OBJECTIVE OF BUSINESS
OBJECTIVE
ECONOMIC
PROFIT
MAXIMISATION OF
WEALTH
OTHER
SOCIAL
SOCIAL RESPONSIBILITY
PROVIDE EMPLOYMENT
OPPURTUNITIES
PROVIDE QUALITY
GOODS AND SERVICE
ADOPT FAIR TRADE
PRACTICE

8. BUSINESS RISKS
NATURAL MAN MADE
TSUNAMI
THUNDERSTORMS
EARTH QUAKE
FLOOD
DROUGHT
FAMINE
THEFT
DACOITY
FIRE ACCIDENT
STRIKE OF EMPLOYEES
CHANGE IN TECHNOLOGY
POLITICAL INSTABILITY

9. PROFESSION AND EMPLOYMENT
CHARACTERISTICS
PROFESSION EMPLOYMENT
THEY HAVE TO OBTAIN SPECIAL
KNOWLEDGE, SKILL AND TRAINING.
HE CHARGES FEES FOR PROVIDING
SERVICES.
THE PRIMARY OBJECTIVE IS TO RENDER
SERVICE.
IT IS INDEPENDENT ACTIVITY.
MONETARY RETURNS REMAIN
UNCERTAIN.
FIXED SALARY IS PAID AT FIXED
INTERVAL OF TIME.
OTHER BENEFITS ARE GIVEN AS
PENSION, MEDICAL ALLOWANCE.
QUALIFICATION, RETIREMENT, WORKING
HOURS ARE PREDETERMINED.
IT IS DEPENDENT ACTIVITY.
NO CAPITAL INVESTMENT NEEDED.

10. DIFFERENCE BETWEEN BUSINESS,
EMPLOYMENT AND PROFESSION
POINT OF
DIFFERENCE
BUSINESS PROFESSION EMPLOYMENT
NATURE OF WORK
QUALIFICATIONS
RETURN
CAPITAL
RISK
TRANSFER OF
OWNERSHIP
GOODS AND SERVICE ARE
RENDER IN RETURN OF
MONEY.
IT IS NOT ESSENTIAL.
PROFIT
REQUIRE AS PER NATURE OF
BUSINESS.
THERE IS RISK
IT IS POSSIBLE
PERSONAL AND BUSINESS
SERVICE RENDER IN RETURN
OF FEES.
REQUIRE AS PER SKILL.
FEES
REQUIRE WHILE
ESTABLISHMENT.
RISK OF NON-RECEIPT
IT IS NOT POSSIBLE
PERFORM WORK AS PER THE
CONTRACT.
REQUIRE AS PER NATURE OF
JOB.
SALARY OR WAGES
NO CAPITAL REQUIRE.
NO RISK REMAIN
NO TITLE OF OWNERSHIP

11. TRADE
 EXCHANGE OF COMMODITY OR SERVICE IN RETURN OF COMMODITY OR
SERVICE OR EXCHANGE OF COMMODITY OR SERVICE IN REURN OF MONEY
WITH THE MOTIVE OF BUSINESS IS TERMED AS TRADE.
 CHARACTERISTICS:
 IT IS ECONOMIC ACTIVIY.
 IT IS LEGAL ACTIVITY.
 IT IS CONTINUOUS ACTIVITY.
 EXCHANGE IS ESSENTIAL.
 TWO PARTIES INCLUDE AS PURCHASER AND SELLER.

12. TYPES OF TRADE
 INTERNAL- THE TRADE WITHIN THE BOUNDARY OF THE NATION.
 RETAILER AND WHOLESELLER
 INTERNATIONAL-THE TRADE WITHIN THE BOUNDARY OF THE OTHER NATION.
 IMPORT, EXPORT AND RE-EXPORT.

13. COMMERCE
 IT MEANS TRADE AND AUXILARY SERVICE TO THE TRADE.
 CHARACTERISTICS:
 TRADE IS A PART OF COMMERCE.
 IT IS AN ECONOMIC ACTIVITY.
 THEY ARE DEMAND ORIENTED YET CONTINUOUS.
 IF AUXILARY SERVICE ARE CHEAP THAN GOODS TO CUSTOMERS WILL BE
PROVIDED AT FAIR PRICE.

14. DIFFERENCE BETWEEN TRADE AND
COMMERCE
POINT OF DIFFERENCE TRADE COMMERCE
MEANING
SCOPE
PARTIES
EXCHANGE OF GOODS OR
SERVICE IN RETURN OF
MONEY.
SCOPE IS LIMITED.
BOTH PARTIES KNOW
EACH OTHER.
IT INCLUDES TRADE AND
AUXILARY SERVICE TO
TRADE.
SCOPE IS WIDER.
MAYBE THEY NOT KNOW
EACH OTHER BUT
AUXILARY SERVICE CAN BE
OBTAIN.

15. INDUSTRY
 A PROCESS OF CONVERTING RAW MATERIALS INTO FINISHED GOODS BY
ADDING UTILITY TO SATIFIES HUMAN NEEDS IS TERMED AS INDUSTRY.
PRIMARY INDUSTRY SECONDARY INDUTRY TERTIARY INDUSTRY
THESE INDUSTRIES ARE
CONNECTED WITH
LAND, SEA AND AIR.
EXAMPLE-
AGRICULTURE, ANIMAL
HUSBANDARY,ETC.
IN THESE THE RAW
MATERIAL IS PREPARE
FOR CONSUMING.
EXAMPLE- FERTILIZER
INDUSTRY, STEEL
INDUSTRY, ETC.
IT SUPPORTS FIRST TWO
INDUSTRY.IT PROVE THE
THINGS TO PUBLIC.
EXAMPLE-SERVICE,
BANKING ,ETC.

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