Today we will discuss the concept of human activities in business studies. Different activities which are performed by human beings for the satisfaction of their needs are called human activities.
Human activities are of following two types:
a) Economic activities
b) Non-economic activities
Let us discuss them one by one:
1. Economic activities: These are the activities which are performed by human beings for earning livelihood. The economic activities are further divided into three categories.
Now let us discuss economic activities one by one:
Business: It means those economic activities in which human beings generally produce or purchase goods for sale to satisfy the needs of other people to earn profit. For doing business no minimum qualification is required. Businessman gets profit as reward in return. Business requires initial capital investment. Risk involved here is high.
Employment: These are those economic activities of human beings in which people work for others and get remuneration in exchange. Qualification which is prescribed by the employer is required. Employees are generally get salary or wages for their work done. No capital investment is required in employment. No risks as employees get regular salary.
Profession: It refers to those economic activities of human beings which require special skill and knowledge to perform that field activities. Training in particular field is required in it. Professionals get their professional fees. Limited capital investment is required to set up profession. Little bit risky as fees sometime uncertain and irregular.
The above are the three types of economic activities.
Now let us discuss the non-economic activity.
2. Non economic activities: The activities which are performed by human beings due to sympathy, love, affection etc.
The above is the concept of two types of human activities.