State the different types of economic activities
Answers
Answer:
Four Types of Economic Activities :-
Primary activities.
Secondary Activities.
Tertiary activities.
Quaternary services.
Answer:
All the economic activities can be divided into four categories as follows:
Primary activities.
Secondary Activities.
Tertiary activities.
Quaternary services.
Explanation:
Economic Activities may be classified as follows:

1. Profession:
A profession is an occupation which involves rendering of personal service of a specialised nature. The service is based on professional education, knowledge, training etc. This service is provided for a professional fees charged from the clients. The professionals are members of professional bodies and conduct their activities according to the standards set by those bodies. The professional bodies have their own code of conduct which members will have to obey.
Features of a Profession:
(i) A person entering a particular profession should have specialized knowledge and training prescribed for entering that profession. One must have a professional degree such as C.A., LL.B., and M.B.B.S. etc. for entering a particular profession.
(ii) The membership of a particular professional body is compulsory before entering that profession. A Chartered Accountant must be a member of the Institute of Chartered Accountants of India and this is necessary for other professions also.
(iii) Every professional body has a code of conduct which every member must follow. It contains norms of behaviour for members.
(iv) Professionals charge fees from clients for providing their services.
(v) A professional cannot advertise himself if it is banned by the professional body.
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