Types of Economic Activities.

Types of Economic Activities:

The economic activities may be classified in three broad categories: 

(a) Business: Business includes all activities which are concerned with the sale or exchange of goods and services with the objective of earning profits. 

(b) Profession: All those activities which require special knowledge and skill for their occupation are included in profession. Such as activities of Doctors, Professors and Lawyers etc. are included in it.

(c) Employment: Employment refers to occupation to which people work for others and get remuneration in return. For example, work in factories, government Offices etc.