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Non-Economic:
Activities, which are done for personal satisfaction and not to earn wealth, are known as non-economic activities. Like all religious activities (saying prayer, taking fast in the Ramadan), Respect of teachers and parents, social welfare like free education etc.
Economic Activities:
These are the activities, which are performed for the purpose of
earning money. Like business, profession and employment. In this definition three types of economic activities are mentioned. Now we will explain the above-mentions economic activities.
Profession:
When persons earn money on the base of some activity, which is based on his skill, or knowledge in a particular field is called profession. For example doctors, accountants etc.
Employment:
When a person earns money by providing his services to some individual or organization on the basis of some terms and conditions is called employment. There are three types of employment.
• If a person provides his services in a government organization, it is known as government employment.
• If a person provides his service in a privately owned organization, it is known as private employment.
• If a person provides his service in an organization the ownership of which is owned by government and private individuals.
Activities, which are done for personal satisfaction and not to earn wealth, are known as non-economic activities. Like all religious activities (saying prayer, taking fast in the Ramadan), Respect of teachers and parents, social welfare like free education etc.
Economic Activities:
These are the activities, which are performed for the purpose of
earning money. Like business, profession and employment. In this definition three types of economic activities are mentioned. Now we will explain the above-mentions economic activities.
Profession:
When persons earn money on the base of some activity, which is based on his skill, or knowledge in a particular field is called profession. For example doctors, accountants etc.
Employment:
When a person earns money by providing his services to some individual or organization on the basis of some terms and conditions is called employment. There are three types of employment.
• If a person provides his services in a government organization, it is known as government employment.
• If a person provides his service in a privately owned organization, it is known as private employment.
• If a person provides his service in an organization the ownership of which is owned by government and private individuals.
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