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11th Class Business Studies Evolution And Fundamentals Of Business Question Bank Evolution and Fundamentals of Business (Short)

  • question_answer
    State the different types of economic activities.

    Answer:

    Ans. Different types of economic activities are of three types:
    (a) Business refers to those economic activities which are concerned with the production, or purchase and sale of goods or supply of services with the main object of earning profits.
    (b) Profession refers to those activities which require special knowledge and skill to be applied by individuals in their occupations.                                     
    (c) Employment refers to the occupation in which people work for others and get remunerated in return.
     


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