IT Business Evolution Quiz

Economic activities are those performed by human beings for earning a livelihood, including business, employment, and the practice of a profession.

Business refers to economic activities in which goods are produced or purchased for sale to satisfy the needs of others in order to earn profit. It requires initial capital investment and involves high risk.

Employment involves working for others and receiving remuneration in exchange, while a profession requires special skills and knowledge in a particular field, often obtained through training.

<p>Non-economic activities are those performed by human beings due to reasons other than earning money, such as sympathy, love, affection, social obligation, and patriotism. Examples include housewives cooking for the family, children going to school, and social workers working for the uplift of the poor.</p> Signup and view all the answers

<p>Participants in non-economic activities do not receive any direct economic benefit from their involvement, as the activities are driven by non-monetary motivations.</p> Signup and view all the answers