Activities performed by humans from morning till night are said to be human activities. Some actions give us benefits like working in an office; one can earn a fair amount. Some other activities, like going to the office, school, cooking food, etc., do not provide any direct benefit. Human activities are grouped into:
(A)economic activities
(b)non-economic activities
(a) economic activities:
All the activities performed by human beings to earn money or livelihood is termed as economic activities. People undertake such activities because they want to acquire wealth and earn a livelihood. For example- a teacher working in a school, an employee working in an office, a doctor treating his patients, etc. These activities are carried out to produce, exchange, and distribute goods and services. Economic activities are further grouped into:
(1) business
definition:
Business is the activity of making one's living or making money by producing or buying and selling products(such as goods and services). Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, a partnership, or have any such formal organization, but it can range from a street peddler to General Motors."
Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the company. If the business acquires debts, the creditors can go after the owner's possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
The term is also often used colloquially (but not by lawyers or by public officials) to refer to the company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up but offers more protection and benefits for the owner.
(2) profession
A profession is an occupation founded upon specialized educational training, the purpose of which is to supply disinterested objective counsel and service to others, for direct and definite compensation, wholly apart from the expectation of another business gain. The term is a truncation of the word "liberal profession," which is, in turn, an Anglicization of the French name "profession libérale." Originally borrowed by English users in the 19th century, it has been re-borrowed by international users from the late 20th. However, the (upper-middle) class overtones of the term do not seem to survive retranslation: "liberal professions" are, according to the European Union's Directive on Recognition of Professional Qualifications (2005/36/EC), "those practiced based on relevant professional qualifications in a personal, responsible, and professionally independent capacity by those providing intellectual and conceptual services in the interest of the client and the public."
It has been said that a profession is not a trade and not an industry.
Medieval and early modern tradition recognized only three professions: divinity, medicine, and law – the so-called "learned professions."
Major milestones which may mark an occupation being identified as a profession include:
- a career becomes a full-time occupation
- the establishment of a training school
- the establishment of a university school
- the establishment of a local association
- the establishment of a national association of professional ethics
- the establishment of state licensing laws
Applying these milestones to the historical sequence of development in the United States shows surveying achieving professional status first (note that George Washington, Thomas Jefferson, and Abraham Lincoln all worked as land surveyors before entering politics, followed by medicine, actuarial science, law, dentistry, civil engineering, logistics, architecture, and accounting.
With the rise of technology and occupational specialization in the 19th century, other bodies began to claim professional status: mechanical engineering, pharmacy, veterinary medicine, psychology, nursing, teaching, librarianship, optometry, and social work, each of which could claim, using these milestones, to have become professions by 1900.
Just as some professions rise in status and power through various stages, others may decline. Disciplines formalized more recently, such as architecture, now have equally long periods of study associated with them.
Although professions may enjoy relatively high status and public prestige, not all professionals earn high salaries, and even within specific disciplines, there exist significant differences in pay. In law, for example, a corporate defense lawyer working on an hourly basis may earn several times what a prosecutor or public defender earns.
(3) employment
Employment is a relationship between two parties, usually based on a contract where work is paid for, where one party, which may be a corporation, for-profit, a not-for-profit organization, co-operative or other entity, is the employer, and the other is the employee. Employees work in return for payment, which may be in the form of an hourly wage, by piecework, or an annual salary, depending on the type of work an employee does or which sector they are working in. Employees in some fields or sectors may receive gratuities, bonus payments, or stock options. In some types of employment, employees may receive benefits in addition to the price. Services can include health insurance, housing, disability insurance, or the use of a gym. Employment laws typically govern employment, organizations, or legal contracts.
(b) non-economic activities:
Human beings perform these activities because of love, affection, physical requirement, etc., but do not earn any money. People do not get any benefit from performing these activities. For example-children going to school, mother cooking food for her children and family, people going t, etc.
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