Question

2. Differentiate between the following activities into business, profession and Employment:
a. Mohan is selling books on behalf of his employer.
b. Tania is practising law or doing legal practice.
c. A cart vendor is selling vegetable in different localities.

Answer 1

The main objective of a profession is to provide service. The main objective of employment is to earn income in the form of salary by satisfying the employer. ... It involves production, purchase & sale or exchange of goods & services. It involves the rendering of personalized services of specialized nature.