Compare business with profession and employment.
Business: It implies business or the state of being buys. Business means an enterprise engaged in the production and distribution of goods for sale in the market or rendering of services for a price.
Profession: Profession is an occupation involving the provision of personal services of a specialized and expert nature.
Employment: It involves working under contract of employment for or under someone known as the employer in return for wages or salary.
Basis | Business | Profession | Employment |
---|---|---|---|
Mode of Establishment | Promotes take decision, registration and other formalities as prescribed by law. | Membership of a professional body or certificate. | Service contact or letter of appointment. |
Nature of Work | Goods and services provided to the public. | Personalized. | Performing work assigned by employer. |
Qualification | No minimum qualification is essential. | Specialized knowledge. | As per service requirement. |
Basic Motive | Earning profits by satisfying needs of society. | Rendering services. | Earning salary or wage by serving the employer. |
Capital | Capital investment required as per size of the firm. | United capital required. | No capital required. |
Reward | Profits. | Professional fee. | Salary or wages. |
Risk | Profits are uncertain and irregular. | Fees are regular and were negative. | No risk. |
Transfer of Interest | Transfer of interest is possible with some formalities. | Not possible. | Not transferable. |
What factors are to be considered while starting a business? Explain.
Discuss the development of indigenous banking system in Indian subcontinent.
What were the different types of Hundi in use by traders in ancient times?
Define Industry. Explain various types of industries giving examples.
Why is business considered as economic activity?
Define business. Describe its important characteristics.
List the major exports and imports in ancient India.
State the different types of economic activities.
Evaluate the need for outsourcing and discuss its limitations.
Discuss the limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.
Discuss the development of indigenous banking system in Indian subcontinent.
Define business. Describe its important characteristics.
What is Hundi?
How would you classify business activities?
Why is business considered as economic activity?
What factors are to be considered while starting a business? Explain.
Explain any five objectives of business.
What do you understand by maritime trade?
1. A government company is any company in which the paid up capital held by the government is not less than
(a) 49 per cent (b) 51 per cent
(c) 50 per cent (d) 25 per cent
2. Centralised control in MNC’s implies control exercised by
(a) Branches (b) Subsidiaries
(c) Headquarters (d) Parliament
3. PSE’s are organisations owned by
(a) Joint Hindu family (b) Government
(c) Foreign Companies (d) Private entrepreneurs
4. Reconstruction of sick public sector units is taken up by
(a) MOFA (b) MoU
(c) BIFR (d) NRF
5. Disinvestments of PSE’s implies
(a) Sale of equity shares to (b) Closing down private sector/public operations
(c) Investing in new areas (d) Buying shares PSE’s
6. The equity-based joint venture does not include
(a) Cooperative development (b) Company
(c) Partnership (d) Limited liability partnership
Define services and goods.