Difference between Business, Profession and Employment
Trending Questions
What Is the Most Important Function of an Entrepreneur?
- Business
- Profession
- Employment
- Service
State True or False. Employment requires capital investment.
True
False
Economic activities may be classified into business, ____, and employment.
Profession
Work
Occupation
Vocation
Name the occupation in which people work for others and get remunerated in return.
Which of the following does not characterise a business activity?
(a) Production of goods and services
(b) Presence of risk
(c) Sale or exchange of goods and services
(d) Salary or wages
Business risk is not likely to arise due to
(a) Changes in government policy
(b) Good management
(c) Employee dishonesty
(d) Power failure
Identify the economic activity in the following: Bhavesh has been work hard and is practicing as a chartered accountant.
Employment
Business
Profession
None of the above
Business is an economic activity. Do you agree ? Why ?
Business is done not to earn profits.
True
False
Explain the concept of business risk and its causes.
What kind of qualification is required for a person to set up a business?
little qualification
specific qualification
none of the above
no minimum qualification
State the meaning of business.
(a) A business activity can be carried out without sale or exchange.
(b) Business involves the creation of utilities.
(c) A business activity may be without a profit motive.
(d) Risk is an essential element of every business activity.
(e) Earning profit is the sole objective of business.
(f) Business is an economic activity.
(g) Profession involves greater risk than business.
Rita has special knowledge and skill that she applies in her occupation. Is she an employee of a big firm?
True
False
- Increase international trade barriers
- Reduce international trade barriers
- Promote optimal use of world resources
- Create a more integrated trading system
1.Wholesaler is in direct contact with ultimate consumers.
2.Commerce is a wider term than business.
3. Risk is inevitable in business activities.
4.Tertiary industry depends upon primary and secondary industry.
5.Internal Trade handle import and export.
6. Business can be expanded with the help of mercantile agents.
7.Transport creates place utility.
8. Industrial activities take place after commerce finishes his role.
9.Changing fashions is one of the important cause of business risk.
10. Available resources should be used to its maximum.
- Service
- Employment
- Profession
- Business
How would you classify business activities?
What is the occupation in which people work for others and get remunerated in return known as?
The occupation in which people work for others and get remunerated in return is known as
(a) Business
(b) Employment
(c) Profession
(d) None of them
What do you mean by commerce?
The occupation where people work for others and receive a remuneration in return is known as _______________.
Employment
Profession
None of the above
Business
Interdependence of industry and commerce.
1. Industrial revolution has given birth to market.
2. Marketing develops unemployment.
3. Machinery is not an industrial product.
4. Price means exchange value.
5. The standard of product of a service can be decided by price.
- Development of poor nations conference
- Bretton woods conference
- Distribution of wealth meet
- None of the above
The goods which are used in producing final goods are called :
(a) natural goods
(b) manufactured goods
(c) intermidiate goods
(d) commercial goods
Industry and commerce.
