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Which economi...

Question

Which economic activity involves no risk?

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Solution

Employment is one economic activity which involves no risk. Employment refers to the occupation in which people work for others and get remunerated in return. Those who are employed by others are known as employees. Example: Any person working for other on a salary basis such as Accountant, Sales Manager, Peon etc.

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Q. Answer the following is Yes or No:
(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.

Q. Name the economic activity, which involves specialised knowledge and in which entry is restricted.

Q. Name the following:
(a) The economic activity showing a risk element and carried on profit.
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(c) The trade in which goods are imported from one country for the purpose of exporting to other country.
(d) The industry which involves breeding and reproduction of plants and animals.
(e) The branch of commerce which remove hindrance of place.

Q. People who are involved in economic activities are known as .

A worker is an individual, who is involved in some economic activity, to earn a living.

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