distinguish between business and proffession
Answers
Answer:
Human activities are primarily classified into two categories, i.e. economic activities, and non-economic activities. Economic Activities are the activities conducted with an aim of earning money or livelihood. Further, these activities are sub-divided into business, profession and employment. There is a huge difference between business and profession in the sense that there is no minimum qualification required for starting a business. It means an activity that is related to buying and selling of goods.On the other hand, a profession is nothing but a paid occupation that requires a person to be formally qualified, expert and trained in a particular field to be called as a professional. Take a read at this article to know more on the two topics.
Answer:
Business : it refers to those economic activities which are connected with the production or purchase and sale of goods or supply of services with main object of earning profit. People engaged in business earn income in the form of profit.
Examples : grocery shop, hair salon, medicine shop etc
Profession : it includes those activities which require special knowledge and skilled to applied by individuals in their occupation. Such activities are generally subject to guidelines or codes of conduct laid down by professional bodies. Those engaged in profession's are known as professionals.
Examples : Doctors, engineers etc