explain the three types of occupations people are generally engaged in.
Answers
Types of Occupation: a. Profession b. Employment and c. Business!
We all know that economic activities are undertaken to earn money. Generally, people engage themselves in such activities on a regular basis and are said to be engaged in their occupation.
Thus, occupation means keeping oneself engaged or occupied in some gainful economic activity on a regular basis to earn one’s livelihood.
For example, doctors treat patients, lawyers provide legal services, workers work in offices and factories, teachers teach in schools and colleges and shopkeepers buy and sell goods to earn their livelihood. In this way they are all engaged in occupations.
Occupations may be classified into three broad categories:
a. Profession
b. Employment
c. Business
Let us now understand each of them in detail:
(a) Profession
A person may not be an expert in every field. So, we require services of others who fire specialised in one held or the other. For example, we need the services of doctors for our treatment, lawyers to get legal support etc. They are all engaged in profession. Thus, profession refers to an occupation, which requires specialised knowledge and training to pursue it.
(b) Employment
Employment refers to an occupation in which a person works regularly for others and get wage/salary in return. Government servants, company executives, bank officials, factory workers are all said to be in employment.
(c) Business
Business refers to an occupation in which goods and services are produced, sold and exchanged in return for money. It is carried out on a regular basis with the prime objective of making profit. Mining, manufacturing, trading, transporting, storing, banking, and insurance are examples of business activities.
Sometimes people earn their livelihood through vocation. Vocation basically means possession of a specific skill and its application towards earning a livelihood. For example people like carpenter, tailor, plumber, beautician, musician, electrician, computer operator etc. are said to be in a vocation as they all possess some special skills to keep themselves occupied either in business or in employment.