Entrepreneurship is an economic activity done to earn profit.
It means finding new ideas or opportunities in the market.
It involves starting and running a business.
Entrepreneurship includes creating new products or services.
It is done under risk and uncertainty.
Human Activities (Research Points)
Human activities refer to all actions performed by human beings in daily life.
These activities are undertaken to satisfy human needs and wants.
Human activities can be broadly classified into economic activities and non-economic activities.
Economic Activities (Research Points)
Economic activities are performed with the primary objective of earning income.
Business activities are carried out to achieve certain goals called objectives. The objectives of business are classified into five categories:
Economic Objectives
Social Objectives
Human Objectives
National Objectives
Global Objectives
Business activities must be carried out regularly and continuously.
A single or isolated transaction is not considered business.
Example: Selling an old car once is not business; buying and selling cars regularly is business.
Every business needs investment in the form of:
