Hi, kids we will start with new subject and a new chapter, Organisation of Commerce and Management, under that the very first chapter Nature and Scope or Busy ness of Business, let’s see.

Explain in brief the classification of human activities. What’s the question, human activities means what you and I or we all are busy doing, right, throughout our life we do something or the other. We all talk to our friends, yes. So, that is also a human activity. We do ride bicycles, human activity, correct. We go to the barber, we go to the saloon for haircut, human activity done by barber. We all dance, play, what is all that, human activity. So, we all are busy in some or the other human activity throughout our life.

Now, let’s understand these activities have been classified into two types, the very first is non-economic activities and second, economic activity. What are non-economic activities? Let’s check out, activities are all those activities which are preformed out of love and affection or as a hobby or joy. Someone is painting, what is it, hobby or maybe for the fun or joy sake. Second, someone is dancing down out here, what is that, hobby or for sake of joy. So, these are non-economic activities. Do remember whenever we are carrying out any activity or a hobby or for joy like these girls, do we get money in return. No, we don’t get money, we don’t get paisa. So, it’s a non-economic activity. The activities are not performed for money or money’s worth.

Economic activities are the activities which are conducted for earning money. You can see barber gets money for cutting hair, right. You buy some flowers you need to pay something, that’s money again. You buy some candy floss, you need to pay money, economic activities, right. Iron, someone is ironing your clothes, he is going to charge you something, we are going to pay money, so it an economic activity. You are going to restaurant or a hotel, the chef prepares something for you, economic activity, why, you are going to pay, right, don’t forget. So these economic activities can be further classified into busyness, that’s business, you are investing money for getting some returns, good returns, that’s a profit, economic activity. Number two, we have profession, you acquire some qualification and you get something in return, money again. At number three, you go for a job as an employee, get something in return again, that’s money. All these are economic activities. Students, I hope it’s very simple and easy to remember.