ESSAY TYPE QUESTIONS
1. Explain the nature of commercial activities.
2. Distinguish between commercial and non-commercial activities.
3. "Commercial activities include trade and aids to trade". Explain.
4. What is a profession? Explain the characteristics of a profession.
5. Distinguish between business, profession and employment.
6. "The activities of business, profession and employment are not competitive but complementary,
Explain.
Answers
Answer:
1. Commercial activity is an activity intended for exchange in the market with the goal of earning an economic profit.The term commercial is also used to identify large institutional entities that are incumbent participants in a given market and have considerable scale.
2.
3. Aids to Trade involve transport, communication, banking, insurance, warehousing, advertising, salesmanship, mercantile agents and trade promotion organisations which help in bringing development in the country. These aids help in smooth flow of goods and services from sellers to consumers.
4. A profession is a job at which someone works and for which they have had training. It is what they do to get money or a living. People often study for years to do their job.
Characteristics of a profession:
- Time Management. Being able to get all your work done in a timely manner is vital to any job.
- Professionalism.
- Effective Writing.
- Technology Knowledge.
5.
6. The activities of business or profession and employment are not at all competitive, rather they are complementary in nature.A business cannot survive single-handedly by a single entity, it is the collective effort of all the people working together that makes a business successful.
Hope this will help you❣️
