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economic activities,non economic activities , what is a business,objectives of business,characteristics,types of sectors in business.Profession,employment,Business management.
Typology: Lecture notes
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Persons who participate in such activities do not get any direct economic benefit. Non-economic activities are carried out with the motive of providing services to others with a non- monetary objective. An example is the working of Non-Government Organisations (NGOs)
Examples of Non Economic activities a) Charitable activities b) Household activities c) Voluntary skilling
Household activity: like tidying, washing dishes, child care, sewing garments or home economics.
For example, a doctor works in the hospital, a teacher working in a school, an employee going to his office, a farmer working in the field etc. They are all doing this to earn his or her livelihood or to acquire wealth.
Economic activities Vs Non Economic activities Bases of Difference Economic Activities Non-economic Activities Meaning These are the activities which are performed for financial gain. These activities generate revenue which may provide financial stability to the organisation for example working in the factory, office etc. These are the activities which are performed to fulfill social, psychological and mental necessities. For example functioning of NGO, like help age, save the children, CRY, etc.
a) Primary economic sector : Primary sector is a sector which is related to withdrawing materials required for production of goods. These are the activities which are dependent upon nature. The examples of this sector are: agriculture, breeding, forestry, fishery, hunting, and mining. b) Secondary economic sector : Secondary sector relates with the goods produced by the raw materials of primary sector. Its example includes: clothes made by the raw material of cotton, jute etc, the Indian Khadi Industry, the construction of houses etc.
BUSINESS, PROFESSION AND EMPLOYMENT
Any activity carried primarily with the object of earning profit can be called a business activity. This objective of earning profit is achieved by production and/or exchange of want satisfying goods and services. Therefore, we can define business as “any activity concerned with the production and/or exchange of want satisfying goods and services carried with a view of earning profit”.