BUSINESS STUDIES
 CLASS 11TH 
CHAPTER - 1 NATURE AND PURPOSE OF BUSINESS
(PART-2)

CONTENT IN TEXT USED IN THE VIDEO-

very good morning to all of you.

Today we will talk about economic activities and non economic activities.

In the previous video,

we have talked about water economy activities and water non economy activities.

So in this video,

we will basically talk about what are the differences between these two that is economic and 

non economic activities.

First of all,

we will talk about economic activities that these activities were carried out with the aim off making 

money.

On the other hand,

the only economic activities are carried out in order to satisfy one socialist.

Been emotionally economic activities results in creation,

off income or wealth.

On the other hand,

non economic activities have no expectation off income or wealth.

As we said,

these are generally the social or emotional needs.

The economic activities results in production and distribution off words.

On the other hand,

on economic activities undertaken for psychological and satisfaction,

economic activities involves application off scars,

resources off production on the other non economic activities guided by 

emotional and sentimental factors.

So these are the major differences between economic and non economic,

like economic majorly focuses on making money and profit on the other.

Non economic is just to provide our satisfy this ocean and in Washington laid,

they're moving on further.

Now let's talk about types of economic activities although the non economic 

activities not wider in terms of economic activities,

as much of either as somewhere you know,

non economy.

So we will talk about economic activities and what are their types.

Now the number one is business.

What is a business business is an activity which,

concerned with production but chase sale or distribution of goods or supply of 

services with them off earning profit.

The business is an activity which involves the process of production that is something to 

produce,

something either to purchase sale or something to distribute,

what to distribute,

that is good or any kind of services.

But with the aim with a goal that is to honor profit toe honor,

income,

toe on money,

that is all about business.

Now let us talk about certain features off business,

which are as follows.

Number one is it is an economic activity.

What does it mean?

Has already said economic activities of those activities which are undertaken do on 

profit,

So business is also an activity which is undertaken to on profit.

So that's what is an economic activity.

Number two.

Production of procurement of goods or services?

Absolutely,

as the definition seated basically concerns with what to produce and what to 

procure off the goods or services.

Number three,

secular exchange of goods and services as well,

like if you are producing something or procuring something for what purpose,

either to sail it or exchange it.

So that's where it involves similar exchange of goods or services Number.

What is dealing in goods and services on a regular basis?

Yeah,

the business doesn't involved it.

If you do a sailor exchange on just one day,

then it will not be considered as in business.

If you do it on regular basis,

then it will be considered as a business.

A wonder transaction will not be considered or make it as a business profit.

Earning,

absolutely profit earning is thier.

If you are doing a business,

then on Li,

the main motive is to on profit,

so profit earning is always here.

Next is uncertainty off returns.

It is quite uncertain that whatever you were expecting from the from selling 

aura selling what exchange of goods and services,

and it is uncertain that whatever you expect it and you will definitely receive that return.

Thank you for exposing that you will get amount of 10 trophies,

but you but it is not certain that you will definitely accept or get this 

amount.

It may be possible that you may is is much lower than it are much higher than this.

This is a kind of a certain dignity off returns in case of business.

Last element off risk risk is always there in any kind of business in any kind off 

function that you are doing risk is always that I didn't make possible at any time any thing happened 

which he owns.

Your production which ruins or sale or anything.

So risk is always there and justice and these eight elements considered to be as the 

features off business except these If we remove all the speeches and 

then activity will not consider it best,

thank you very much.

Now we will talk about the another black physics off matters and 

manage the business in the next video.

Thank you very much.