Differentiate between business and profession.
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Business refers to that Economic activity which is conducted on a regular basic to ear profit through production and sales of goods.
Profession refers to that economic activity which is conducted by a person having some special skill.
Profession refers to that economic activity which is conducted by a person having some special skill.
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Business refers to those economic activities which are concerned with the production, purchase, sales or distribution of goods or services with the main objective of earning profit where as profession refers to the activities which require special knowledge and skill to be applied by an individual in his work to earn a living. These activities are subject to guidelines or codes of conduct laid down by the professional bodies.The people who are engaged in professions are known as professionals.
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