Business is an Economic activity
which involves regular production and
or exchange of goods and services with
the main purpose of earning profits
through the satisfaction of human
According to B.O Wheeler -``Business is
an institution organized and operated
to provide goods and services to society
under the incentive of private gain.”
TYPES OF ECONOMIC ACTIVITY
What is ‘business activity’?
The activities or operations carried out by a
business, example making goods, selling goods,
providing a service.
Any activity that is engaged in for the primary
purpose of making a profit. Business activities
can include things like production, operations,
marketing, and administration.
Categories of business activities
(1) Activities related to production of goods.
(2) Activities related to rendering of services.
(3) Activities related to distribution of goods.
(4) Activities rendering distribution Assistance.
(5) Activities which render Financial Assistance.
CLASSIFICATION OF BUSINESS ACTIVITIES
---(c) Synthetic Industry
Aids to Trade
Constituent of production
which is involved in the
changing form of a good
at any stage from raw
materials to the finished
AIDS TO TRADE
We can classify business activity into three different sectors
according to what they do.
The production of
crops, such as
Fishing fleets and
fish farms .
& felling timber.
Mining & Quarrying
Coal mines, oil and
natural gas extraction,
quarrying of all types
All businesses which
make or produce
gas & water for our
People employed in
sorting the design /
function of machinery &
Businesses which construct
bridges, railways etc & any
body working on
construction sites such as
Services offered by
businesses, such as
banking , hotels
Services provided by charities, such as
environmental protection, global
development, global emergency response.
Provided locally &
government & local
authorities, such as
CHAIN OF PRODUCTION-The three sectors are linked in a sequence..
Growing & Felling trees