Tranter 7.

(ual,hcations 5 2Ntare
Work ad
LCommcnemeot
Condut
Caet Interes Lvotut 4)
DrceceBuinessPrufessionBasisof e 33
ca. Natrc ) No Is No
revnraln
(eraanett,
Seranttengorary or
ibat Agenent
methv
R:sk Need
ot
Lmplover The the of An
pivate
eplovee
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}m
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ietttranserhis prott ualihatao
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ivalve Starts
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ode organiation, and
is esal e Ihe rivk There
omnission, neot
ot tho ..*ts
ratute not Nant ese
conduct tocd high
tmaltics among cmpiover in is is in
the that no entercd
casual) is
otained
f risk, ctc his
for any Busincss, iob ot sced o
vig
the offees, place
if can
that s
emplovee. masterus
in Quality
oaduct 1here
professloa. ided.
servicetransfer
his
prw protessional
ot cannot A necessary
aholutel
loqualification
Formal is Ihe tequired
Generally. I'ersonal
IN specialistservices ascettified
concerned
institution getting
fronStarts
thatter
e capital n etis under
employment
be
catn degree Profession& anytody. of
is the also a
a profit accoding and special
i
code nterests. of a dacts
through risk little Itaster Sinilarlye Written1
contract the
of can
ts capital
contract.
Employment and
low. bet
the not
code There
of words,
other In lhe
Dedicatontranster
interet
b his An
joto salary
wageemployment
or lo tecessary
Formal i Ihere capital.
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There the Work
enployct
akcotdua appointmentgettig
letteStarts
attet governnent,
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ot
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enployee carn ) lbasis
isa is is alkotted Employme
contrat
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in
also case risk need
the n by
it ca et e
oe
obiectives
from 1.
() (ü) () Economic Ma Objectives
Business
Ilhe of
e important creation
Objective
products,
making
otHence, of completely
prestige he JustProit an 1his
of Profitbuilding
stales Sutticient objectives
ation:
advertisenent.
increasc
Creation goods, performs. economic ike in is
that objcctive Making: one an
nt business because of of and rented, the Objectives
objective
obiective in business unfit.excessProft. lender point theor
ustv
Cieate ot
custoner,
Customers:
recognition Normally, No n businesscan
daToday,
y theAlong
Onpoht
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other
hasprolit Concept the main of of
FPres
bycustomes should the business receives vicw:business
åsiness
day. business. of wiattract th tocan it taking. same
no way
ereationmeans Another generatecontrary,
of objective be
ofhas mannet one interest talk clasited
msf this, be business a
is are maximum about
without
if made of to adulteration
it two is
tacing therecusteomers good economic the there of
Cbcüe of
unler
customers attract that concepts, establishing on carning
and only conet businessman
a much to the which
eloping Hence,qualitytowardswhen more
ons proit domoney
two
tusines adnsatectas
Ekih
ies
objective ete. one money. heading
products to thete is profit objective of business a business
directly and sufhcient Hence,the any
is he
areworld create itseli that Maxinum should business
lends Businescannot a
also is more of sh
someone
customets are The lnked business is gives in
onsumer
ging sold potential requiredprofit concept of whichorganiution get and
has be in
best way Proit profit landlord the
at towith is quite
is
he the
thought
reasonable
and price.
medium
purehaecustomers to for to for following lliig
the crcate the artificial cannot
to Atis to maximunn
suitabie proht is whie busines gets
ecoming
do this atisty objective survival is
to of
customers themake diagra
gstage, products.thethe rent carn Ecunemi
objetves
them doing so is towardsits becausedehciencysecondactivities
of growth. on
prufht.
stene more chances prutit
protit.
the
nw and is By it is
an
 Kxial s.Social
Cretelen-A
t funtiosObijectives uTssn Moces
1nnonatn
tptanl
pupoe
t bz
buuoesa of
Pcle Sacags
i
hasises Karsthe erets
4,
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and sqeedthe
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helpsosety
cnane hetetBosnosstefahlih Banagenent,uvita
obthebusunss Je
1 by he of
fatr Quaitfirstt
42y An Pee ens roviing petäteeng prodet
qdty n
usinesses
at For view of
Generzky.
cose
all tme. eds
Forlang shz mpetan
Ling cehet a Proft
od chccE Reture
ottas
ta xts pmasn,can
b
Rapld Ia
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campanies prafteeringalasgads nod The Gns doo
only don the Surial earning
in ImpBuymet: to eyet leveston
be ewting Deopment: Comeity s besnesran
ar e then maintaird
he besiness atean snence has it wtds,
to facts: feature Business gen business
be etahished
nisthe pnper in al at insiety ae t martiag t0
very been gurrse re falfít gd
to
whhabusiness shoul a
absuluse fud whatprofn of The reasonable Price:follows: as
guickiy. eof atra and air
ery tmects obiervedpruft orasa colbasiness e The shoud this
dividend business
thousands
Nowadays, it.
and of
quantity must
lo not and homk and casy
tescarch,
etat.hurman profitmost Nowadays,
mote
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nressity the Ifwe the operated. th e not karget itisobtive
is people be price The an ones el
rements establishmentlook
that Profits important ta
business. playsin earn to operated ofsize
fo r is
the can
Adulteratyon
Busincss
products
price. the in duBge important its to
andusinesses
being employment th e .Library, and
n an at alone iving
eliminate people make resonslile ofcan
requires proit. of e Business consumer. in
profit the snvestment
shareholders. of in
social businessonly e
s
whole helpa question in
business
byardispensary,
e
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int at
tore
has ofwhere of In he this condition o
at the
ascene,
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attracted
great particular business Tbe country. is in Moreover, continuousquantity on
ifbusiesu society. So,
hispeople. to is problem. the theymoney has socicty.
towards
The
the role words the hoarding showa and
live as expanded
s role we
profit have devclopment it.educational
contrilR
In or of to biggest should of
in findbusinesssurvive, to prohtbusiness how Handicapped invested Many hebusiness innvtn Consumets, y
ing thatthis continue
is Business made. to
1,

d way. very proft so adopt Should nst

in problem people institutke
The by much mething, is
we littleloses
from similarty,aa business
can
is
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h the can the to establbtel
and
shath ; th .
or its exisfr t be c a
e a c justb mo s te
T BuildingFor(a) development
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(S) They, encourages
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get the devclopment.
ordone progress orthe nclude
Forbusiness, backof
Classification 1.of
2 businessman increasing
society. is eosible. that thalel t
,ing concerned
socicty. can This
be achieve
to to that owners
the lncreasing
increasedone sufficient
cash Fo the the workers by profits answer
All Profit chain therefore, the
Activities
Business can
pay
problem
Earningshareholders, customers,
his He
power naximum people. issuing Now,
hem the is
formed save want the and ore to can
tivitles bycapital
ment objectives. haswants which Licienc plays busunessmen
his the be
eficiency
Prestige the
rom allowing
onesell More can try that Here re of
which, profit.
workers a possible?
question
shares, all
(moncy)
capital which orsatisfied. be to to tomotivates to they investment
significant inportant
twich
he Prefit: solved etc. These have pay satisfy increase self-interest
from Money adequate and ofTheretore, people work to
There
ace can the in Now, should are issuing is The wanit
turn, all
business.
a
customers
beany avatlableProfit This by steps Recognition sep the that
ofare every parate
the bothprofit becomes
is role question aoswer thetr
aken
n highightedpossible entitles earning get they tw o tieans no there
of
in will remuner include parties the bythe parties power deberitures to btsiiess
businessman dentity more make ate
a try
hindrance
tobusinessfor help
profit.
maxinum
werking
parties means
profit. tt possible.
nanyatises to
purchase the
business. concerned
ation the to this Evolutia
more like the Every concerned do 1hetw and other capital 1e
to in businessman supply of to more and questiun
wthetedeelop,
the business 1f to nore in
Coisequethy. sources
ction pruit. this helps a businessman his bonus(They do a than avalabie.
ce things
in This businesswants the own, something and and better ploghing
ans
ot setf wall
the in employees, He of s
of nce process onfocarning can to te gond has To inbetter wa that
interest
ut
thisFsindmentals
gettigsefcient
r do The
n with carn is aare profit the
this credit help
a carning itqualiry , achieve
to
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ommerce. By pav part is
productionpurchasing
discount.
howmaterial this to way On that roits. caecapit
ion stoking profit, It of to is
rofit. sutfxient that can nakes ort sthe These of
de teputationandtn can it tin gain finaily prefit a the runposr frs
is
Bus
some ibort. other they a zet Poughiog pofit can b
all at prestige
lnraw Sales Profits he be lopurpose.
tldividend n business
bselpsearnig) shotld whichawok uces Themake this
of Business cntinucs, it thas material poss:ble
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In
ings materul, prices a
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and
 Human Aetivities

Boonomie Attivties
Honeonemic Activities
1 PelgaA Pte
ktees Protesc Egement

1 gad Seng 1 law 1 Manager

2 Medical 2 Supenvisor
hdutry
3 Charterd Acoountancy 3 Worker
Tiartsot
Wehoat
Atetcg

Human Activities
Any activity that a human being performs to meet his requirement is called human activit
Human needs can be related to earning money as well as getting mental satisfaction. On this ver
basis they can be divided into the following two categories:
A. Economic Activities
Those activities whose objective is to earn
money are called economic activities. They incude 1 Tool Kit
buying and selling of goods, doing legal practice or Economic Activity?
working in some factory. It refers to that activity which is undertaken with the
objective of earning money.
Economic activities are of the following three
types
(1) Business: Business refers to
that economic activity which
is conducted on regular basis
to carn profit through the
production and sale of goods
and services. For example, a
cdoth shop, a transport company,
etc. In the cloth shop thìngs
are bought and sold and the
transport company does the
same in respect of services. A
transport company does not sell
any goods, but offers services for Economic Activity
transporting goods from one place to another and charges
carriage.
 6
(3) (2)
functions
important
following
professian provision
Establishment bepofession.
Furmalised Bods
is
) of
alled ananCharacteristics
Profession (2) ()study
called that () () (a)The (u) characteratics) of Prof. ued hve
mentivned s Meani
Tong
cannot Due
ProlessionalismThe that ng theof
Accordi conumens withanut time
afor prodessional a
Specialied
of Representative
Organisationwith Formalised
Experience
Training and
Techniques;
Specialised
Knowledge Zhe eithr
Dalton equtrcd understand businesnun that Consumer
is
profession Formatíon
Regards exption loowing and
that lraining Methods run Existence ia to conunerk
to the
it
of a Establishnent itstxting,
the speialisd Webster Definitions get
Saisfation:
sucEssshoulconsumers
Repreventattve proiesston. fo r NMethod professon. E.
must defintions the d
the and of Knowledgeshould e of as
thEthical in
haveknowledge its of McFarland
ollowing whch mcaning satistaction
of
Acquiring
experience Priorityof Goxl; of a Dictionary, et
a Therefore, bave Codes Acquiring guidng orknow wil Profession make
satitaction The
Body onc
preventative and lprolesses
edge, beof goods aim
Professional specialised
which
Training
in Technlque: Service for of and
of hve bas "Profe<si
advisingwhich
on
helpful:PROFESSION
profession Even
of
a the the and the is
profession.
occupation over W T cqual bustnes
ly
rofessional imparted
Association:
is and knowledge Guidance
the
tTAW others."
is lo expansi
services on
The should
Experience:
It Desire
Ud
person
trelers
thatta ToolKit 4 important.
available
means ofan first Conduct;
of
LAW inpartaly
havng of
by and
important business
a. be
association
whiinstitutions
ch The some only ordinary for
Profession some
ecanoc
to carningIt
technical Monetary sere according
third There and
specalProfession? also
that varous actvty uselessto
feature
characters humanshould individualskill. Anowieden depends profit
Reward. LA P sectons ahch to
of the hink c but
performs An a of tunnd s
actiiyalways cannoxh profes v
taste
onthe al
ordeas
b
Professionals
hiworks
s in amanagers, can under
beany remuner
as Some employer
employment
(1) :
own an organisation. on be Employment
(E
Characteristics
Service
of Employment
The of employee. of
permanent,
private Enployment Meaning of snecialised
his why,adopting Priority bonesty,
Medicaland of
Code for eyIndia, le () To tuta) )
employment following hospital, ioninlieuthereo in living conductChartered Lawyers;
aeor
ToToToTo
government surveyors, the can the chpeople professionals of
to likexamples
e shape
be but a integrity
of nd Condct: been
Representative
regulate buildcreateregulate
prescribe
Chartered
(the: it doctorsIn the knowledge,
social
profession Service includes established. up a
are wil other temporary govt., of workfor is Accoutants, entry and code the
is the salary, that and
Members minimum
the The be labourers,
hospital, of service are
promote behaviout
can
called words,employment overmorality. rules Medical to of
servlce main Employment may govt. economic
Theremunerstion receive
othersand respected oneAccountant. is haveetc., conduct
first also or wages, also connected Thereprofession.
Protesional
happens Economic ete
fmportant fealures profession. his be casual
if clerks, enterprise gets
a Comcloflndato qualiications the
of of
of activity The a are tor
others. recruited
a etc. EMPLOYMENT in
somemeans profession image its
doctor arebasis. activity society. code representative guidingmembers
of The to with
etc. or Consideration:
be proper Associations with
(eature wil of
his For earning conduct olthe arc of itsofthe
be its
menbers
called chicf
remuneration
example,
profession.bound
already
been octots menbers activitieof Evotio
professional
Toal 5Kiemployment. objective. moncy with
to prolesuna as
a
hesnd refers LikinstituleoChattefA
e respectThesefollow
toe a regardto and the acs
that doctor under prescribed. Fearara,
for all associatioss pefw
tcae
eancsc Empioyment rules code a
to
followsservicewhich other
temnerzbonEploymen! On the
hightight of
prdesibas one
actvty busnesprofessions
the his ofon
condyt. 1:ke
nder contrary, professioasociety, the
e valrthe d ur
beu basis actn like The
thesd ch That hee s4
geie if La. cud
he ofa
for ia
on runs
17
 (ü)
i) ate by and
productson
serices frorn
ng actnies f dierent
According
the
The
Defisitions
Business of
cornmunicatien,
But
goats vs in In ef
the Business
Meaning
term mean the the soczal wiActivities
undertaken th
Non-economic B.
scbolars
of pnoductionofgands (3)
ot included
to r soebusiness'
and benader
restricted sork nemunerathon.
Non
services to thoe MAtlonshaving
LH. Dr. of from
takzng
sense
Non-+cenomic
Actisty
Empluctc.yment :Enployment is
oronic
ey. ay in W.R. the tine has insurance,activities
thern sense We a ome
of
tpromirent
he of shall view oxicty
been atvtisare Fur speial
tducta Spriegel,
he to to and the of
maesy be
ässifed tudefined
me. storage, thwhich
e term, the now to example, This
sholars The arbusines
e
place services tern study kain knewledge
in
A! mcntal
esand ditferently
following banking,
connecteddawnbusiness
of al thase wwrking
ludes
of the BUSINESS ofcontract
kind a
usness sale the legal and
the consumptlon. is
rd as etc. to the will satisfation.
cconormicactivities n skll
with the sum tatoes, practicc,
vities ei | 3 be d
refers task
serecesotanad the total trcated which
tas
ts
cbcte 2activitics For whinnedical
n For taking ofof
carrying gemment under ch
tofut ers
ran
econcmie example, al! as d to ToolKipropagating
t exAmple, aim
put them the the retrg that in
at
practice,
dy Business? ofpurchase
activities Non-oconomic
pschingcal Activityt
acaety
detail
carning
money not
throgh goods to ofhces. one
cth they er
the the nhch works Jly
productorrt ca includeconsumerswhich and
from sstacbgos ete to
s n for
condt the sale undertaben serve

traesp plaue start eligion, othets

of the
Fa nthra int,
d
(6) (5) (3)
e o
n is byCreation
various by lossandgo Element step. Risk:of toThe result )lioht The
helplessness purpose Proßt
transaction new it
Regularity Le.
considered makes
isdomestic
for purchasce-sale
ll
edrrying the carn
It essential in purchase-sale one,
does used selling
Echange
means
t
order
in
individual
sce
to
Characteristics
carningofgoodscconomic
includes
Fconomic only An
thabove
e
etforts not
ways means proft, some of
Motlve: not continuously use that Economic
following
by of here come business use, be that to money. and
hand in
nggoods L'tof ility in condition the cannot in through called of it of be should any activities description
finding that whatever person In the Dealing:
loss. it th s if
Goods of activity services
like undershould transporting in angoodscalled of
fromutlitythe ofthe In Business
there purchase-sale
order business, be is, It characteristics
and economictherefore, with meanActivity: Business
hand It be activity
individual
because in
businessman.order
heir a cannot
concerned
is calledbusiness. his business
performed of
of
the solutionin should are may
that to be
In
transporting shop Services: by
business
reality will a the the
sizeplace toproblems
bustness be consider be business regularly it purchascs For shopkeepcr. purpose
the the said in exchange
is his then not activities.
make activity For a cxample, eg. essential Busines
orplace,of
form,
t im e to not conduct is business service be For nature by brings
is
uctlon
rm, From a results to domestic it the
things problemlike and be that carn any example,a done. goods willcalled busincss an of
considered does a
the these purchase-sale which be if
thing
dity the of of in is
But thbelonging business, a
more ups the the caseprofit. take at goods
shopkceper
business,
cconemic can can personeconomic if otthe
byof tu andwholethe transaction.
individual ofBut place continuously the is cxchange a
ownership the and useful destroy be a loss
it service
time downs bed activity towill
but
place the sometimes as but sells
it
Stmilarty,
other if
is point for source of business,
wil in his activity
not purchases he tor Busires Dealing
of
ated ef socicty of roses should is be
purchase hisgods
not the eld not provided people,
ofhers to
mption, of life.
of efforts absence regular which
busines if personal
the some
vie w There be be scooter ot
byUtlity their business profit loss propellcd
Hence, considered
it
is this owner the
service
ee
onng tiityutilty is A are essentialto isactivity butif mateal use
place of of an d but dane ume
lttlethorns earn regulaity this is
utiity interait
purchasea the of et
or is by proft reruladr ntai a
created
enhanced mistake business that wlbevehdevehide fracti
sing created is at desire a
ef every can the ths s ity
form or
ia
11Business:
AnIntroduction
LeonomicNo
Business +Prof
#CanceptofBusiness activity or the othcr. lke
busy in doing some
Iesbalenains veducingthings.
are busy in things.
)Somepeople buving nd selling
Some eople arebusyin
(2) the protession oflaw.
are busy in
(3)Somepeple patients.
pople are busy in treating
() Some
Some pople are serving in factories.
(5) ottices.
people are serving in government
(o) Some propagating religion.
people are busy in
(7) Some
pecople are busy in doing social work.
(8) Some activities. If we look at these activities
All these activities are called human
be divided into two parts. There are some activities (1-6) which are undertaken to earn It
there are some other activities (7-8) which are undertaken not for earning money,
satisfaction. The first type of activities are called Economic Activities. while the secand
activities are called Non economic Activities,
If we look carefully at the first six activities (ie., Economic Activities), we can divde s
into following three categories:

First Category Second Category Third Category

Actnity e 1 Activity Noa 2 Activity No. 3 Activity Na.4 Activity tio 5 Ach c

buness
Profess.on
Employme
Classification of Economic Activities
The nature of all the three activities happens to be
activities is related to the job of production and different. For example, the fhrst catgag
special knowledge; and in the third category peopleselling-buying; the second category is rea:
serve
of the irst category fall under
the business activities; theothers for earning money. Ihe aco
activities of the second categr
under profession and the activities of the
human activities are shown in the third category related to employment The d
are
following diagram.
12