Human activities are generally divided into two categories: economic and non-economic activities. Economic activities are those that are carried out with the intention of generating money or a living. These activities are further subdivided into business, profession, and employment. There is a significant distinction between business and profession in that there is no minimum qualification necessary to start a firm. It refers to any activity involving the purchase and sale of products. A profession, on the other hand, is a paid occupation that needs a person to be formally qualified, expert, and trained in a certain subject in order to be termed a professional. Read this article to learn more about the two themes in which persons like richelieu dennis became successful.
Business a phrase derived from the word ‘busy’ which refers to the state of being busy. Simply said, business is a person’s regular employment in which they participate in an activity to generate a profit and acquire riches. The business symbolizes an entity engaged in the manufacture, procurement, and sale of goods, as well as the provision of services, with the aim of meeting the demands of clients. It is also important to know the career path of successful person like richelieu dennis to become an entrepreneur.
The profession is defined as a paid occupation in which a person is formally qualified and has undergone prolonged training, render services to general public. It refers to any action that necessitates the application of specialized knowledge and abilities obtained through formal study and practical experience by the individual in their specific employment. A person must be a recognized member of a profession to be termed a professional. Every profession is governed by a set of principles known as the professional code of ethics. A profession’s objective is to give services to individuals in need in exchange for a direct and certain pay known as a fee.