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Why is a cobbler making shoes for himself not considered engaged in business?
Why is a cobbler making shoes for himself not considered engaged in business?
- Because business transactions involve selling goods or services to others for profit. (correct)
- Because engaging in business requires a formal education in commerce.
- Because business needs to be officially registered with the government.
- Because business activities should always be done on a large scale.
What is the key difference between economic and non-economic activities based on purpose?
What is the key difference between economic and non-economic activities based on purpose?
- Economic activities involve the production of goods or services, while non-economic activities do not.
- Economic activities aim to generate income, while non-economic activities do not. (correct)
- Economic activities are profit-oriented, while non-economic activities are not.
- Economic activities are related to monetary transactions, while non-economic activities are not.
What defines a profession?
What defines a profession?
- Professions are always related to artistic skills.
- Professions are limited to medical and legal fields only.
- Professions do not require any specialized training or education.
- Professions are characterized by a high level of expertise and adherence to a code of ethics. (correct)
Explain any two characteristics of ______
Explain any two characteristics of ______
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What is meant by ______? Describe any two characteristics of ______
What is meant by ______? Describe any two characteristics of ______
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Why do we call a person doing carpentry as engaged in a ______?
Why do we call a person doing carpentry as engaged in a ______?
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Define the term 'occupation'.
Define the term 'occupation'.
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Why is a cobbler making shoes for himself not engaged in business?
Why is a cobbler making shoes for himself not engaged in business?
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Describe the main characteristics of business.
Describe the main characteristics of business.
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