Type of Economic Activities

(a)Profession

      Various people are engage in different types of professions. All professions help to smooth running of the society. Their main elements are: (i) Theoretical knowledge, (ii) Practical experience, (iii) Social responsibility, and (iv) Representative organization.

(b) Employment   

  Employment is another aspect of economic activities. It is agreement between employees and employer. employees provide service of employment and in turn, employes pay remuneration to employees for their service.

(c) Business

     Business is the most important branch of economic activities. It is way of earning livelihood by earning money. Production and exchange of goods and services, economic motive, creation of utility, measurement by money, satisfaction of wants etc. are the main feature of business.

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