Hi friends today I m writing my blog on beautiful topic of meaning of business only little bit information on business so let start it.
Economics activities keep trade and commerce alive all over the world. In your city or a village a potter, blacksmith, weaver, cobbler get economic benefits or monetary returns through economic activities. Thousands of employees worker in cities in small or big factories to get a employment are also a types of economic activity. Human needs are increasing continuously. Man has to perform economic activity to satisfy his needs e.g. farmer produce food-grains, lawyer charges fees for representing a case in court on behalf of his client. A worker get wages by working in the factory. All these activities as the objectives of these activities is to get monetary returns.
Some person in society performs activities without aiming at economic benefits or monetary returns e.g. a social worker is working with the aim of social service. If doctor provides free medical service with motivation of social service. It is called non-economic activity. There is no objective of economic consideration or monetary value.
Economic activity means an activity carried out with the objective of economic benefit of monetary consideration. Man has to perform economic activity for his livelihood, so that he can satisfy his needs by getting money. All economic activities are called productive activities. A person doing economic activity satisfices the need of others and gets economic benefits for him, e.g. a farmer by producing food grains, a weaver by manufacturing furniture satisfies the needs of different classes of society and by this way gets economic returns. Economic activities is at the Centre of the modern world.
The objective of non-economic activity is neither monetary returns nor economic gains. Some persons in society person activities without the objective of monetary consideration or economic gains. e.g. social carried out by social worker, nursing activity by mother for her children, working of volunteer propagating the unity of community, volunteer working in relief camps where the people are affected by natural calamities like earth quakes, Tsunami etc. are called non-economic activities. The motivating factors for these activities are services to country, service to society, feeling of all these brings change in the life of a person.
The term business is derived from English word ‘Busy’ which mean to remain active or to be active continuously.
A person with a specialized skill, knowledge, training and professional education renders services and in return receives fees, it is called profession.
Employment mean jo. It is economic activity performed in return for a fixed salary where work is assigned as per contract. E.g. a teacher teaching in a school or a government employee.
