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Business, Trade & Commerce (Part 1)
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  • Course
  • Business Studies
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  • HELPER
  • Book
  • Business Studies - Class 11 by Poonam Gandhi (2020-21)

It is a study resource available to everyone about Business, Trade & Commerce. Here you have been made available with the necessary information regarding the topic.

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  • June 9, 2020
  • 2
  • 2019/2020
  • Class notes
  • Unknown
  • All classes

Subjects

  • business
  • commerce
  • business trade commerce

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CH – 1

BUSINESS, TRADE & COMMERCE

Human activities can be classified in two categories:-




Economic Activities Non-Economic Activities

 Activities which are done with the objective Activities which are done with the objective of
of earning money. getting psychological satisfaction.

 These activities are concerned with distribution The end result is not earning profit or money.
production & exchange of goods and services. E.g.:- Going to temple, charity, etc.

 The purpose is expectation of money which is
used in further creation of assets.
 E.g.:- Production of Goods, Working in Factory, etc.




BUSINESS PROFESSION EMPLOYMENT

 Economic activity concerned with Activities which require Activity in which an individual
Production, sale or distribution of special knowledge to be works for another person
goods & services with main objective applied by an individual in his and get wages in return.
of earning profits. work to earn living.

 E.g.:- Fishing, Mining, Manufacturing, Every professional have to follow
Etc. guidelines or code of conduct
lay down by professional body.
E.g.:- CA – ICAI, LAWYER –Bar Council
Of India

Objectives of Business



ECONOMIC SOCIAL HUMAN/ INDIVIUAL

 Survival Supply of Desired quality of goods Good Working conditions
 Growth Avoidance of unfair trade Satisfactory Wages
 Profit Employment Generation Peer Recognition
Social Service Other benefits such as Bonus
Avoidance of Pollution Personal growth by imparting
training

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