User:Kalpesh.pimpalkhare/Sandbox

Concept of business: The term business is derived from the word 'busy'. Thus, business means being busy. However, in a specific sense, business refers to any occupation in which people regularly engage in an activity with a view to earn profit. The activity may consist of production or purchase of goods for sale, or exchange of goods or supply of services to satisfy the need of other people. In every society people undertake various activities to satisfy their needs. These activities may be broadly classified into two groups - economic and non-economic. Economic activities are those by which we can earn our livelihood whereas non economic activities are those performed out of love, sympathy, sentiments, patriotism, etc. For example, a worker working in a factory, a doctor operating in his clinic, a manager working in his office and a teacher teaching in his school - are doing so to earn their livelihood and are, therefore, engage in an economic activity. On the other hand, a housewife cooking food for her family, or a boy helping an old man cross the road are performing non-economic activities since they are doing so out of love and sympathy. Economic activities may be further divided into three categories, namely business, profession and employment. Business may be defined as an economic activity involving the production and sale of goods and services undertaken with a motive of earning profit by satisfying human need in society.