Nature, Purpose and Scope Of Business

ANY ACTIVITY WHICH IS DONE FOR THE MONETARY CONSIDERATION OR FOR ECONOMICS GAINS IS TERMED AS ECONOMIC ACTIVITY.
ALL ECONOMIC ACTIVITY CAN BE TERMED AS PRODUCTIVE ACTIVITIES.

1. NATURE, PURPOSE AND SCOPE OF BUSINESS Daily Dot

2. ECONOMIC ACTIVITY ANY ACTIVITY WHICH IS DONE FOR THE MONETARY CONSIDERATION OR FOR ECONOMICS GAINS IS TERMED AS ECONOMIC ACTIVITY. ALL ECONOMIC ACTIVITY CAN BE TERMED AS PRODUCTIVE ACTIVITIES. A PERSON DOING A ECONOMIC ACTIVITY SATISFIES THE NEED OF OTHERS AND GET BENEFITS FOR HIM.

3. NON-ECONOMIC ACTIVITY ANY ACTIVITY WHICH IS DONE WITHOUT THE MOTIVE OF MONETARY CONSIDERATION OR ECONOMICS GAINS IS TERMED AS NON-ECONOMIC ACTIVITY. THE FACTORS FOR DOING THIS ACTIVITY IS SOCIAL SERVICE. THIS ACTIVITY IS BEEN CARRIED OUT WITH THE FEELING OF LOVE, AFFECTION, AND COMPASSION.

4. DIFFERENCE BETWEEN ECONOMIC AND NON-ECONOMIC ACTIVITY POINT OF DIFFERENCE ECONOMIC ACTIVITY NON-ECONOMIC ACTIVITY OBJECTIVE EXPECTATION TYPE RISK AND UNCERTANITY MOTIVE IS TO GET ECONOMIC BENEFIT. PROFIT, SALARY, WAGES, AND MAXIMISATION OF WEALTH. BUSINESS , PROFESSION AND EMPLOYMENT. THERE REMAIN RISK AND UNCERTANITY. MOTIVE IS SOCIAL SERVICE, SERVICE TO COUNTRY. SOCIAL SERVICE OR SERVICE TO COUNTRY. NO TYPE THERE IS NO RISK AND UNCERTANITY.

5. TYPES OF ECONOMIC ACTIVITY BUSINESS MEANS ANY LEGAL ECONOMIC ACTIVITY WITH THE OBJECTIVE OF PROFIT. SOME TIME THERE IS A LOSS IN A BUSINESS BUT THEN ALSO IT IS TEREMD AS BUSINESS. BUSINESS IS CARRIED OUT WITH THE MOTIVE OF PROFIT.

6. CHARACTERISTICS OF BUSINESS THE FOLLOWING ARE THE CHARACTERISTICS OF BUSINESS- R EQUIREMENT OF MONEY E CONOMIC ACTIVITY C ONTINUANCE OF ACTIVITY R ISK AND UNCERTANITY E XCHANGE OF GOODS AND SERVICE C REATION OF UTILITY O BJECTIVE OF PROFIT

7. OBJECTIVE OF BUSINESS

8. BUSINESS RISKS NATURAL MAN MADE TSUNAMI THUNDERSTORMS EARTH QUAKE FLOOD DROUGHT FAMINE THEFT DACOITY FIRE ACCIDENT STRIKE OF EMPLOYEES CHANGE IN TECHNOLOGY POLITICAL INSTABILITY

9. PROFESSION AND EMPLOYMENT CHARACTERISTICS PROFESSION EMPLOYMENT THEY HAVE TO OBTAIN SPECIAL KNOWLEDGE, SKILL AND TRAINING. HE CHARGES FEES FOR PROVIDING SERVICES. THE PRIMARY OBJECTIVE IS TO RENDER SERVICE. IT IS INDEPENDENT ACTIVITY. MONETARY RETURNS REMAIN UNCERTAIN. FIXED SALARY IS PAID AT FIXED INTERVAL OF TIME. OTHER BENEFITS ARE GIVEN AS PENSION, MEDICAL ALLOWANCE. QUALIFICATION, RETIREMENT, WORKING HOURS ARE PREDETERMINED. IT IS DEPENDENT ACTIVITY. NO CAPITAL INVESTMENT NEEDED.

10. DIFFERENCE BETWEEN BUSINESS, EMPLOYMENT AND PROFESSION POINT OF DIFFERENCE BUSINESS PROFESSION EMPLOYMENT NATURE OF WORK QUALIFICATIONS RETURN CAPITAL RISK TRANSFER OF OWNERSHIP GOODS AND SERVICE ARE RENDER IN RETURN OF MONEY. IT IS NOT ESSENTIAL. PROFIT REQUIRE AS PER NATURE OF BUSINESS. THERE IS RISK IT IS POSSIBLE PERSONAL AND BUSINESS SERVICE RENDER IN RETURN OF FEES. REQUIRE AS PER SKILL. FEES REQUIRE WHILE ESTABLISHMENT. RISK OF NON-RECEIPT IT IS NOT POSSIBLE PERFORM WORK AS PER THE CONTRACT. REQUIRE AS PER NATURE OF JOB. SALARY OR WAGES NO CAPITAL REQUIRE. NO RISK REMAIN NO TITLE OF OWNERSHIP

11. TRADE EXCHANGE OF COMMODITY OR SERVICE IN RETURN OF COMMODITY OR SERVICE OR EXCHANGE OF COMMODITY OR SERVICE IN REURN OF MONEY WITH THE MOTIVE OF BUSINESS IS TERMED AS TRADE. CHARACTERISTICS: IT IS ECONOMIC ACTIVIY. IT IS LEGAL ACTIVITY. IT IS CONTINUOUS ACTIVITY. EXCHANGE IS ESSENTIAL. TWO PARTIES INCLUDE AS PURCHASER AND SELLER.

12. TYPES OF TRADE INTERNAL - THE TRADE WITHIN THE BOUNDARY OF THE NATION. RETAILER AND WHOLESELLER INTERNATIONAL -THE TRADE WITHIN THE BOUNDARY OF THE OTHER NATION. IMPORT, EXPORT AND RE-EXPORT.

13. COMMERCE IT MEANS TRADE AND AUXILARY SERVICE TO THE TRADE. CHARACTERISTICS: TRADE IS A PART OF COMMERCE. IT IS AN ECONOMIC ACTIVITY. THEY ARE DEMAND ORIENTED YET CONTINUOUS. IF AUXILARY SERVICE ARE CHEAP THAN GOODS TO CUSTOMERS WILL BE PROVIDED AT FAIR PRICE.

14. DIFFERENCE BETWEEN TRADE AND COMMERCE POINT OF DIFFERENCE TRADE COMMERCE MEANING SCOPE PARTIES EXCHANGE OF GOODS OR SERVICE IN RETURN OF MONEY. SCOPE IS LIMITED. BOTH PARTIES KNOW EACH OTHER. IT INCLUDES TRADE AND AUXILARY SERVICE TO TRADE. SCOPE IS WIDER. MAYBE THEY NOT KNOW EACH OTHER BUT AUXILARY SERVICE CAN BE OBTAIN.

15. INDUSTRY A PROCESS OF CONVERTING RAW MATERIALS INTO FINISHED GOODS BY ADDING UTILITY TO SATIFIES HUMAN NEEDS IS TERMED AS INDUSTRY. PRIMARY INDUSTRY SECONDARY INDUTRY TERTIARY INDUSTRY THESE INDUSTRIES ARE CONNECTED WITH LAND, SEA AND AIR. EXAMPLE- AGRICULTURE, ANIMAL HUSBANDARY,ETC. IN THESE THE RAW MATERIAL IS PREPARE FOR CONSUMING. EXAMPLE- FERTILIZER INDUSTRY, STEEL INDUSTRY, ETC. IT SUPPORTS FIRST TWO INDUSTRY.IT PROVE THE THINGS TO PUBLIC. EXAMPLE-SERVICE, BANKING ,ETC.

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