Explain the different types of economic activities.

1.	Explain the different types of economic activities.
Answer» 1. Business: It is mainly concerned with the production and exchange of goods and service. 2. Professions: It is mainly concerned with the rendering of specialized technical and personal services. Ex: Lawyers, Doctors. 3. Employment: It is the work undertaken by the people under an employer for salary or wages.

Answer»

1. Business: It is mainly concerned with the production and exchange of goods and service.

2. Professions: It is mainly concerned with the rendering of specialized technical and personal services.

Ex: Lawyers, Doctors.

3. Employment: It is the work undertaken by the people under an employer for salary or wages.

Discussion