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Class notes Business studies Business Studies- (Poonam Gandhi)-2021-22 Class 11 CBSE, ISBN: 9789389975208
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Ashwin’s Commerce WorldClassification of Human Activities
MEANING OF HUMAN ACTIVITIES
Human activities mean all those activities which human beings undertake. Human activities are undertaken
to satisfy human wants. These activities continue throughout life because wants are unending, unlimited and
recurring.
The main characteristics of human activities are as follows:
(i) Human activities are those activities which can be undertaken only by human beings i.e., men women
and children. These activities involve human efforts.
(ii) Human activities are undertaken to satisfy human wants which are unlimited.
(iii) Human activities continue throughout life.
(iv) Human activities have a very wide range.
(v) Human activities are performed both for earning money as well as for obtaining personal satisfaction.
CLASSIFICATION OF HUMAN ACTIVITIES
HUMAN ACTIVITIES
ECONOMIC ACTIVITIES NON-ECONOMIC ACTIVITIES
Economic activities refer to all those human Activities which are undertaken to satisfy social,
activities which are undertaken to earn a living and religious cultural and sentimental requirements are
thereby satisfy human wants. The main object of called non-economic activities. The object of these
these activities is to earn income and create wealth. activities is not to earn monetary gain or reward.
People engage in non-economic activities for
reasons of love, sympathy, religion, patriotism, etc.
FEATURES
ECONOMIC MOTIVE.
Economic activities are undertaken to earn money These activities are not undertaken for the objective
and acquire wealth. The main motive behind these of monetary gain, but are driven by feelings such as
activities is to make an economic gain. These love, patriotism, humanity, sympathy, brotherhood
activities are performed by human beings for etc.
earning livelihood.
LEGALLY VALID.
Human activities performed for economic gain are
called economic activities only when they are
lawful.
The same activity may be economic as well as non-economic. For example, a nurse attending a patient in
a hospital is an economic activity as the nurse works for a salary. But when the same nurse attends to
her sick mother at home it is a non-economic activity because the object is not to earn money. Thus, the
activity of the same person may be economic at one-time or place and non-economic at another time or
place. The dividing line is not the activity or the person who is doing it but the objective for which it is
undertaken.
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Ashwin Jaiswal (9126913465) Ashwin’s Commerce World
, Ashwin’s Commerce World
ECONOMIC ACTIVITIES
BUSINESS PROFESSION EMPLOYMENT
Business includes all those The terms profession means Employment mean an economic
economic activities which are an occupation which involves activity, where people work for
concerned with production and application of specialised others in exchange for some
exchange of goods or services knowledge and skills to earn a remuneration. The persons who work
with the object of earning profits. living. The persons who are for others are called ‘employees’. The
Business is an economic activity engaged in profession are persons or organisations which
because it is undertaken for called professionals. They engage others to work for them are
earning money and producing render personal services of a called ‘employers’. The remuneration
wealth. specialised nature to their by an employer to his employee is
clients. The service is based on known as wages or salary.
professional education,
training and experience.
FEATURES
Profit motive: Specialised body of Contract of employment:
Earning profit is the main knowledge. A person signs a contract of
objective of business without Every profession has a employment to render his or her
which it can’t exist. An activity specialised and systematised personal services to the employer
carried out without profit motive body of knowledge. Members which may be a Government
cannot be called business activity. of the profession are required organization, a public enterprise or a
to learn this knowledge. private company. The employment
contract, in most cases, is the
appointment letter
Continuity in dealings: Formal training. Duty-bound:
It means that there should be A professions provides An employee has to perform the
buying and selling of goods and facilities for formal education duties assigned to him by his
services for money on regular and training to those who employer.
basis. . A single transaction want to acquire professional
cannot be categorized as qualification.
business.
Economic activity: Professional association: Main objective:
Business is an economic activity Every profession is governed The primary objective of employment
which involves production of by a statutory body. The is to earn a fixed wage or income on
goods and services for profit- membership of this statutory a weekly or monthly basis.
making. Non-economic activities body is mandatory for
such as doing charitable work, practicing the profession.
nurturing one’s own farm for
personal consumption of farm
produce cannot encompass
business.
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Ashwin Jaiswal (9126913465) Ashwin’s Commerce World
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