differentiate between business and employment on the basis of disc
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Answer:
Key Differences Between Business and Profession. ... A form of economic activities, wherein special skills, knowledge, and expertise is required to be applied by the person, in his occupation is known as the profession. The primary objective of a business is to earn profit whereas profession is aimed at providing services...
Answer:
Business
Business refers to those economic activities, which are connected with the production or purchase & sale of goods or supply of services with the main object of earning a profit. To earn income in the form of profit people engage themselves in business. Examples: fishing, mining, farming, manufacturing, wholesales etc.
Professions
Professions includes those activities, which require special knowledge & skill to be applied by individuals in their occupation. Those engaged in professions are known as professionals. Professionals are generally subjected to guidelines or codes of conduct laid down by professional bodies.
Examples: lawyers are engaged in the legal profession, governed by the bar council of India & chartered accountants belonging to the accounting profession are subject to the regulations of the Institute of chartered accountants of India.
Employment
Getting remunerated in return for the work done for others refers to an employee. Employees are the people who are employed by others. Thus, people who work in factories, offices of banks, insurance companies or government department, etc at various posts are the employees of these organizations. They receive wages & salaries. Examples: working in offices, banks, insurance companies, shops, as a manager, clerk, peon, salesman etc.
Comparison of Business, Professions and Employment