What Are Economical Activities ? Types Of Economical Activities

What are Economic Activities ? Meaning ↓

Economic activities are related to production, distribution, telephone substitution together with consumption of goods together with services.

The principal aim of the economical activity is the production of goods together with services amongst a thought to brand them available to consumer.

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"Human activities which are performed inwards telephone substitution for coin or money's worth are called economical activities."

In other words, economical activities are those efforts which are undertaken past times homo 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 inwards a mill 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, in that place is no monetary consideration inwards telephone substitution for such activities.

E.g. H5N1 mortal goes to temple, a man child helps his friend inwards studies, etc.

Types / Classification of Economic Activities ↓

1. Profession

Profession is an delineate of piece of occupation carried on past times professional person people similar Doctors, Lawyers, Engineers, etc. They supply specialised services inwards render for fees. To larn a professional, a homo requires specialized noesis together with professional person qualification. For e.g. Doctor needs specialised noesis inwards medicine, a lawyer needs a grade inwards law, etc.

2. Employment

Employment is a type of delineate of piece of occupation nether which 1 mortal provides his services, physical or mental to someone else inwards render for which he gets salary or wage. The mortal who employs is called employer together with the mortal 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 straight 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 organization activities.