Answer:
Ans. Business has been compared with profession and employment in tabular form given below:
Basis of Distinction Business Profession Employment Mode of Establishment Starts after completing some legal formalities if needed. Membership of a pro- fessional body and certi- ficate of practice required. Start after getting appointment letter. Qualification No minimum quali- fication is necessary. Professional qualification and training required. Qualification and training required prescribed by the employer. Capital Investment Capital needed according to nature and size of business. Limited capital for establishment. No capital required. Risk It involves high risk. The degree of risk is low. No risk in it. Code of conduct No code of conduct. Professional code of conduct is to be followed. The terms and conditions of service contract are to be followed. Nature of work Provision of good and services to the public Personalized services of expert nature. Work allotted by the employee according to the contract Reward/Return Profits Professional - fee Salary or wage.
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