Types of economical activity

Types of economical activity

Every activity which is related some monetary gain come under economical activity. Activity like make a living or add to wealth or make some capital gain, these types of activity which is related with some monetary function or gain, are come under economical activity. On the behalf of activity, we divide it into these three parts like – employee, profession and business.

Types of economical activity

Employee – We also called it job, an occupation or job under which a person performs all his activity for a salary or remuneration. In other word, a person is hired or employed by someone against a fixed amount. A person performs all the activity for employer & he acts according to the need of employer.

Professional – It is define when any work or occupation requires some special knowledge come under profession. In these special services, we often include like an Advocate or an Architect or a CA, who earns living by providing specialized services to his clients. These professional is generally regulated by some law or constitution body which define minimum academic and other qualifications.

Business – A business is a group of activity which keeps a person or group actively involved in work for some monetary gain. In other words, we can say that it is a wide term which includes all single or multiples activity which are directed towards earning profit/salary and generating capital through some goods, services or productions.