Q.Define business. What are its characteristics? Give any four characteristics.

Employment is working for an employer under a service contract, in exchange for wages or salary.

Employment

A TS Inter 1st-year Commerce topic distinguishing business, profession and employment, aligned with the NCERT/CBSE curriculum. Employment is a contract of service between employee and employer, where the employee performs assigned duties per the employer's rules of service and receives remuneration in the for …

A profession is an occupation providing expert, specialised personal service to clients, based on professional qualification, in exchange for a professional fee rather than wages or trading profit.

Profession

This is a TS Inter 1st-year Commerce topic distinguishing the forms of human economic activity, aligned with the NCERT/CBSE Business Studies treatment of business, profession and employment. A profession involves rendering personal service of a specialised and expert nature, grounded in formal professional education, knowledge and training. The professional charges a fee for this service rather than earning wages (as an employee does) or trading profit (as a businessperson does). A doctor treating patients using e …

A profession provides expert personal service based on professional training, charged as a fee.

Profession

A TS Inter 1st-year Commerce topic distinguishing business, profession and employment, aligned with the NCERT/CBSE curriculum. A profession involves specialised, expert personal service based on professional education and training, provided for a professional fee — e.g. a doctor treating patients using expert medical knowledge for a fee.

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