Economic Activities
Done with the aim of earning money
Involves production, distribution, or exchange of goods/services
Helps in livelihood and economic growth
Examples: farming, teaching (job), running a shop, working in an office, factory work
Result: Income (wages, salary, profit)
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:
When you go to the market, you see many goods like food items, clothes, books, phones, etc.These goods do not appear on their own.
👉 First, goods are produced in factories, farms, or workshops.👉 Then, they are transported from the place of production to markets.👉 Finally, they are sold to customers like us.
Apart from goods, many people provide services such as:
Transport of goods and passengers
