Definition of Human Activities in Business Studies and Types of Economic Activities

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Human Activities: The activities under taken by human beings are known as human activities. A person gets up in the morning and performs various activities during the day both at home and outside. A student may go to school, a worker may go to factory, an employee may go to office, a businessman may go to his enterprise, others may take up their day to day work. All these activities in which we participate from morning till night are called human activities examining these activities, we may find that some activities produce direct economic benefits while others may not produce any direct economic benefits. Thus human activities may be classified into two categories:

 

Economic Activities, Non- Economic Activities

Economic Activities: Economic Activities: Economic activities are related to production of wealth. Every human being undertakes some kind of work with a view to earn his living. All these activities create utilities. The aim of economic activities is to satisfy human wants. A worker goes to a factory for work, a farmer work in the field, a teacher teaches in the class, A doctor attends his patients, an advocate pleads in the court, all these activities are undertaken with a view to earn live hood while doing some work. These activities enable persons to earn living and satisfy their wants. Economic activities are directed towards the sanctification of human wants.

 

Non-Economic Activities: These are those activities which are pursued for social, religious, cultural, psychological or sentimental reasons. Non-economic activities have no economic motive but are undertaken to have self satisfaction. These activities are voluntary in nature and are undertaken at the leisure or pleasure of the person pursuing them. The examples of such activities may be ; a housewife working at home, a person engaged in social work, attending a religious activity, listening to a discourse by a saint, attending to patients by volunteers etc. all these activities are dome for one’s own satisfaction.

Types of Economic Activities

Economic activities can be classified as follows:
Profession, Employment, Business
Profession:  A profession is an occupation which involves the rendering of personal service, of a specialized nature. The service is based on professional education, knowledge, teaching etc. The specialized service is provided for a professional fee charged from the clients. The professionals are members of professional bodies of those lines and conduct their activities according to the standards set by those bodies. A person entering law profession has to obey the guidelines and regulations of Bar Council of India. A chartered accountant is governed by the Indian Institute of Chartered Accountants of India. Before joining a profession a person has to acquire the educational qualification set for that profession.

 

Employment or Service: When a person or service undertakes to render personal service under an agreement of employment, he is said to be service or employment. The service is rendered for a salary or wage and other benefits attached to that job. The service may be in a government on a private organisation.
Business: Business may be defined as an activity concerned with the production and exchange of goods and services with the objective of earning profits. The word ‘Business’ literally means ‘a state of being busy’. Every person is engaged in some kind of occupation in order to earn one’s living. An entrepreneur runs a factory, a trader sells goods, a banker lends money, a transporter carries goods etc., all these activities are related to business. These activities are undertaken to earn a profit or a living out of them. People remain busy with thing or the other.

Definition of Human Activities in Business Studies and Types of Economic Activities  

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MOHIT BHARDWAJ

Hello Visitors, myself Mohit Bhardwaj working in blogging sector since last 8 years. my qualification in bachelor degree in computer science steam. contact Number: 80910-51002

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