(5) Distinguish between business, profession and employment.
(6) Give the meaning of industry
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The main objective of business is to earn a profit. 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.
Explanation:
meaning of industry
economic activity concerned with the processing of raw materials and manufacture of goods in factories.
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