Question

V. Case Study Based Questions 1. Three friends Arun, Tarun and Varun are engaged in different types of activities to earn their livelihood. Arun describes his occupation by saying that,” transfer of interest is not possible in case of my occupation and at the same time it does not require any capital investment." Tarun remarks," in my occupation also transfer of interest is not possible, but one needs to possess high degree of specialised knowledge in a particular field." Varun shares that, in his occupation transfer of interest is possible with some formalities and also capital investment is essential. In context of the above case: (a) Identify the different types of economic activities being described in the above paragraph. (b) Give any three points difference between them which have not been mentioned in the given paragraph. atini Amanita Works in a nrivate sector bank as a public relation of her her​

Answer 1

• The activities are

1. Business
2. Employment
3. Profession

• Difference

1. Business-Here the main motive is to earn money through production.
2. Employment-Here people work under the employers who employ them
3. Profession-Here people who have knowledge on the stream