(i) A hawker sells toys for children near the park.
(ii) Paramesh works as a manager in a mobile company.
(iii) John is a advocate of high court.

(i) Bala cooking food for her family.
(ii) A person selling cool drinks in the bus stand.
(iii) A student praying in temple for scoring high marks in the Examination.
(iv) A person teaching his daughter for her public exams.

According to H. Haney "Business" may be defined as a human activity directed towards producing or acquiring wealth through buying and selling of goods.

Business refers to any human activity undertaken on a regular basis with the object to earn profit through production, distribution, sale or purchase of goods and services.

(i) Economic Activities refers to those activities which are undertaken with the object of earning money.
(ii) For  Example Workers working in a factory, shopkeeper selling the goods in his Shop, Doctor attending the patient in his Clinic, etc.

Economic activities on the basis of size:
On the basis of size, business activities may be broadly grouped into two categories.
(a) Small-scale:
Small-scale units require less capital. They employ small number of workers and produce the goods on small scale.
Examples:
(i) Manufacturing textiles in handlooms or power looms.
(ii) Extraction of edible oil from seeds like groundnut, sesame, through "traditional wooden churner.
(b) Large scale:
Large-scale units require huge capital. They employ large number of workers and produce the goods on large scale.
Examples:
(i) Manufacturing Textiles in a large Textile mill. Example. Raymonds, Ramraj Cotton.
(ii) Extraction of edible oil from oilseeds in oil mills. Example. Suffola, Sunflower.

Being an important part of the country, every business must have the objective of fulfilling national goals and aspirations. The goal of the country may be to provide employment opportunity to its citizen, earn revenue for its exchequer, become self-sufficient in production of goods and services, promote social justice, etc., Business activities should be conducted keeping these goals of the country in mind, which may be called national objectives of business.

(i) Nature of Work:
(1) Business is concerned with production and sale of goods and services to people.
(2) Profession is concerned with the rendering of specialised personal services to clients.
(3) Employment is concerned with the performance of the work assigned by the employer.
(ii) Capital:
(1) More capital is required for doing business.
(2) But profession does not require much capital and employment does not require any capital.

Business refers to any human activity undertaken on a regular basis with the object to earn profit through production, distribution, sale or purchase of goods and services.
Business may be defined as "an activity involving regular production or purchase of goods and services for sale, transfer and exchange with an object of earning profit".
A profession is something which is more than a job. It is a career for someone who is competent in their respective areas. It includes professional activities which are subject to guidelines or codes of conduct laid down by professional bodies.

Human activities :
Human activity is an activity performed by a human being to meet his/her needs and wants or may be for personal satisfaction. Human activities can be categorized into economic and non-economic activities. Economic Activities are those activities undertaken with the object of earning money. Activities undertaken to satisfy social and psychological needs are called non-economic activities.

The criteria for success in modern Business are:
(i) Clear formulation of objectives
(ii) Planning
(iii) Organising
(iv) Estimating and arranging for finance
(v) Right location, proper layout and size
(vi) Efficient marketing system
(vii) Development of human potential
(viii) Continuous monitoring of environment
(ix) Dynamic leadership
(x) Ethical practices

Business activities are classified on the basis of size, ownership and function.
(i) Activities on the basis of size:
On the basis of size, business activities may be broadly grouped into two categories.
(1) Small Scale:
Small scale units require less capital. They employ small number of workers and produce the goods on small scale. 
Example: Manufacturing textiles in handlooms or power looms.
(2) Large Scale:
Large scale units require huge capital.They employ large number of workers and produce goods on large scale.
Examples: Manufacturing Textiles in a large Textile mill. Example. Raymonds, Ramraj cotton.
(ii) Activities on the Basis of Ownership :
On the basis of ownership business activities may be broadly grouped into three categories.
(1) Private Enterprises:
An enterprise is said to be a private enterprise where it is owned, managed and controlled by persons other than Government.
(i) Sole proprietorship. Example Sundar Stationeries.
(ii) Partnership firms. Example - Ramesh Bros.
(2) Public Enterprises:
(i) An enterprise is said to be a public enterprise where it is owned, managed and controlled by Government or any of its agencies or both.
(ii) Public enterprises may be organized in several forms such as,
Departmental undertaking - Public Works Department (PWD)
Public Corporation - Oil and Natural Gas corporation (ONGC)
Government Company - State Trading Corporation (STC)
(3) Joint Enterprises:
An enterprise is said to be a joint enterprise where it is owned, managed and controlled by Government and private entrepreneurs.
Example : Maruti Suzuki
(iii) Activities on the Basis of Function:
On the basis of functions, business activities may be broadly grouped into two categories.
(1) Industry :
Industry includes all those business activities which are connected with raising, producing or processing of consumer goods.
Example : Bread, butter, cheese, shoes, or capital.goods like machinery.
(2) Commerce:
It establishes a link between the producers and consumers of goods and maintains a smooth and uninterrupted flow of goods from producers to consumers.

Basis	Economic activities	Non - economic activities
(1) Definition	Economic activities are those activities which are undertaken to earn money or financial gain for livelihood. e.g : Fruit seller selling fruits.	Non-economic activities are those activities which are undertaken for the sake of pleasure, performed out of love, sympathy, sentiments etc. e.g : Mother cooks for her family,
(2) Motive	The Sole motive is to earn money or financial gain. e.g : Working as lawyer	Undertaken for satisfaction of social, psychological or emotional needs. e.g : Visit to a temple
(3) Money Measurement	All economic activities can be valued in monetary terms. e.g : Doctor charges a fee for consultation.	Non-economic activities cannot be valued in monetary terms. These are an expression of a thought, feeling or a gesture. e.g : An NGO distributes free clothes to poor children.
(4) Relationship	Economic activities are related to creation of wealth. e.g : Ram saved part of his salary to purchase a house of his Own.	Non-economic activities do not create wealth.  e.g : Money received as donation is spent on charity work.
(5) Outcome	All economic activities result In production, procurement, distribution and consumption of goods and services. e.g: Nokia produces cell phones and sells across India through its distributors.	The end result of a non-economic activity is the mental, emotional or psychological satisfaction of the person doing the activity.  e.g : Sona enjoys teaching orphans in an orphanage.
(6) Duration	Economic activities are repetitive. They are done on a regular basis to earn a living. e.g : Kulfi ice cream seller sells ice creams every evening.	Non-economic activities may not be undertaken regularly. Usually they are done during free time. e.g : Sankar visits orphanage in his free time
(7) Source of Initiation	Economic activities are initiated to satisfy human needs and wants.	Non-economic activities are initiated to satisfy emotional or sentimental pleasures.