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Chapter: 11th Commerce : Objectives of Business

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Objectives of Business

Human activity is an activity performed by a human being to meet his/her needs and wants or may be for personal satisfaction.

OBJECTIVES OF BUSINESS

 

Introduction

 

Human Activities

Human activity is an activity performed by a human being to meet his/her needs and wants or may be for personal satisfaction. Human activities can be categorised into economic and non-economic activities. The chart below gives a snapshot of human activities.

 

I. Economic Activities

Activities  undertaken  with  the   object   of earning money are called economic activities.

 

Examples:

·           Production of goods by manufacturers

·           Distribution of goods by wholesalers

·           Selling by retailers

·           Medical advice rendered by physicians

·           Accounting practice by chartered accountants

 

II. Non-Economic Activities

Activities undertaken to  satisfy  social  and psychological needs are called non- economic activities.


Examples:

·           Cooking food for family

·           Celebrating festivals

·           Watching movies in a theatre

·           Doing meditation

 

Economic Activity Vs. Non-Economic Activity


 


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