CH – 1
BUSINESS, TRADE & COMMERCE
Human activities can be classified in two categories:-
Economic Activities Non-Economic Activities
Activities which are done with the objective Activities which are done with the objective of
of earning money. getting psychological satisfaction.
These activities are concerned with distribution The end result is not earning profit or money.
production & exchange of goods and services. E.g.:- Going to temple, charity, etc.
The purpose is expectation of money which is
used in further creation of assets.
E.g.:- Production of Goods, Working in Factory, etc.
BUSINESS PROFESSION EMPLOYMENT
Economic activity concerned with Activities which require Activity in which an individual
Production, sale or distribution of special knowledge to be works for another person
goods & services with main objective applied by an individual in his and get wages in return.
of earning profits. work to earn living.
E.g.:- Fishing, Mining, Manufacturing, Every professional have to follow
Etc. guidelines or code of conduct
lay down by professional body.
E.g.:- CA – ICAI, LAWYER –Bar Council
Of India
Objectives of Business
ECONOMIC SOCIAL HUMAN/ INDIVIUAL
Survival Supply of Desired quality of goods Good Working conditions
Growth Avoidance of unfair trade Satisfactory Wages
Profit Employment Generation Peer Recognition
Social Service Other benefits such as Bonus
Avoidance of Pollution Personal growth by imparting
training
BUSINESS, TRADE & COMMERCE
Human activities can be classified in two categories:-
Economic Activities Non-Economic Activities
Activities which are done with the objective Activities which are done with the objective of
of earning money. getting psychological satisfaction.
These activities are concerned with distribution The end result is not earning profit or money.
production & exchange of goods and services. E.g.:- Going to temple, charity, etc.
The purpose is expectation of money which is
used in further creation of assets.
E.g.:- Production of Goods, Working in Factory, etc.
BUSINESS PROFESSION EMPLOYMENT
Economic activity concerned with Activities which require Activity in which an individual
Production, sale or distribution of special knowledge to be works for another person
goods & services with main objective applied by an individual in his and get wages in return.
of earning profits. work to earn living.
E.g.:- Fishing, Mining, Manufacturing, Every professional have to follow
Etc. guidelines or code of conduct
lay down by professional body.
E.g.:- CA – ICAI, LAWYER –Bar Council
Of India
Objectives of Business
ECONOMIC SOCIAL HUMAN/ INDIVIUAL
Survival Supply of Desired quality of goods Good Working conditions
Growth Avoidance of unfair trade Satisfactory Wages
Profit Employment Generation Peer Recognition
Social Service Other benefits such as Bonus
Avoidance of Pollution Personal growth by imparting
training
