![]() ![]() For example, Chartered Accountants in India are regulated by a professional body known as Institutes of Chartered Accountants of India. Most of the professionals are regulated by a professional body, which frames the code of conduct to be followed by the member professionals. These can be broadly categorised as:Īll those economic activities which involves the rendering of personal service of specialised and expert nature based on professional training and skill and require the observance of certain rules and regulations (code of conduct) are termed as Professions. ![]() ![]() ![]() The activities in which individuals engage themselves on a regular basis and earn their livelihood are known as their occupations. Classification of Economic ActivitiesĮconomic activity can be a one-shot affair or a continuous one. By getting engaged regularly in a particular economic activity, people try to earn their livelihood. While activities like meditation, engaging in sports for physical fitness, listening to music, providing relief to flood victims, etc. A farmer growing crops, a worker working in a factory for salary, a businessman engaged in buying and selling of goods are examples of economic activities. Whereas the other types of activities that are undertaken to derive self-satisfaction, are called non-economic activities. The human activities that are undertaken with an objective to earn money or livelihood are called economic activities. It may be cultivating land, preparing food, playing football, reading storybooks, studying in a school, teaching in a college, working in an office, jogging in the park and so on. All these activities which human beings undertake to satisfy their needs or wants are called human activities. Every human being is engaged in one activity or the other. ![]()
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