Meaning And Nature Of Business

                       "Nature of business is a exciting game, play it right"

     

       Business is one of the economic activities, so before we take up the discussion of business, let us have some idea about "economic activities".

                                        Meaning And Nature Of Business 

              In the words of Ur wick and hunt. Business is any enterprise which makes, distributes or provides any article or services which other members of the community need and are willing to pay for.                
                   
                            

                                                ECONOMIC ACTIVITIES

           Economic activities refer to those human activities which are undertaken with the object of satisfying material or economic needs. Buying and selling of goods bu traders and specialized personal services rendered by professional like doctors, lawyers, chartered accountants, management consultants and personal services os employees in private and government undertakings.

                                                        Types of Economic Activities:

                                                                          *Business
                                                                          *Profession
                                                                          *Employment

                                                                BUSINESS
                                                                
             Business refers to economic activities concerned with the production and sale of goods and services for the purpose of earning profit,Such as trading, transportation and banking.

                                                               PROFESSION

             Profession is an economic activities concerned with the rendering of technical, specialized and export personal services to clients in return for a reward or payment called fees.Such as services of doctors, lawyers.

                                                               EMPLOYMENT

              Employment is an economic activities or occupation in which a person known as an employee under a contract of employment or contract of services performs regularly such work as may be assigned to hime by the employer in returend for a payment called salaries or wages.