Introduction to Business

Every human being performs many activities in his daily life. He always keep himself engaged in some or other kind of activity to satisfy his material and social needs. the work which is done by human being to satisfy his want is known as activity. Human wants are unlimited and so there are unlimited activities in the life of a human being. All human activities can broadly divided into two categories:

1) Economic activities

2) Non-economic activities

1) Economic activities:- The work which are undertaken to earn a living are known as economic activities. The main objective of such activities is to create wealth and earn money.

Feature of economic activities:-
-Economic motive
-Creation of utility
-satisfaction of wants
-measurement of money

Types of economic activities:-
- Profession
-Employment
-Business


NON-ECONOMIC ACTIVITIES:- All those activities which are undertaken to satisfy human sentiments, such as , religion, recreation, charity, patriotism, etc are known as non-economic activities. The main objectives of such activities is to render service to other without any regard for economic gain.


FEATURES OF NON-ECONOMIC ACTIVITIES:-
- Service Motive
-Personal Pleasure
-Social Obligation
-Non-measurement by money


CHARACTERISTICS OF BUSINESS:-
- Economic Activity
-Dealing in  goods and services
-Production and Exchange
-Regularity and continuity in dealing
-Risk or Uncertainity
-Profit Motive
-consumer satisfaction
-creation of utility
-enterprise

OBJECTIVE OF BUSINESS:-
-Economic objective
-social objective
-Human objective
-Organic objective
-National objective