What are Economic Activities ? Meaning ↓
Economic activities are related to production, distribution, central together with consumption of goods together with services.
The master copy aim of the economical activity is the production of goods together with services amongst a stance to brand them available to consumer.
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"Human activities which are performed inward central for coin or money's worth are called economical activities."
In other words, economical activities are those efforts which are undertaken past times human being to earn Income, Money, Wealth for his life together with to secure maximum satisfaction of wants amongst express together with scarce means.
E.g. H5N1 worker industrial plant inward a manufacturing flora together with gets wages.
What are Non-Economic Activities ? Meaning ↓
"Human activities which are non performed for coin or money's worth are called non-economic activities."
Here, at that spot is no monetary consideration inward central for such activities.
E.g. H5N1 individual goes to temple, a man child helps his friend inward studies, etc.
Types / Classification of Economic Activities ↓
1. Profession
Profession is an business carried on past times professional person people similar Doctors, Lawyers, Engineers, etc. They render specialised services inward render for fees. To endure a professional, a human being requires specialized cognition together with professional person qualification. For e.g. Doctor needs specialised cognition inward medicine, a lawyer needs a aeroplane inward law, etc.
2. Employment
Employment is a type of business nether which i individual provides his services, physical or mental to someone else inward render for which he gets salary or wage. The individual who employs is called employer together with the individual who is employed is called employee or worker.
3. Business
Business is an economical activity concerned amongst production together with distribution of goods together with services amongst the aim to earn profit. It includes all those activities which are direct or indirectly concerned amongst production, buy together with sale of goods together with services. So the production, marketing, advertising, warehousing, insurance, banking, etc. are all business concern activities.
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