1. Made By Vicky Sharma

3. Business refers to an economic
activity in which people regularly
engage in purchase production
and sale of goods and services,
on a regular basis with the view
of earning profit by satisfying

4.  An Economic Activity – Business is
considered to be an economic activity
because it is undertaken with the object of
earning money or livelihood
 Regular Basis – Business involves
dealings in goods or services on a regular
basis. One single transaction of sale &
purchase, therefore does not constitute
business.
 Earning Profit – One of the main

8.  Th isis the first stage of the production
process.
Raw materials are farmed or extracted
from the land or sea
 People who work in the primary
JOBS
sector are : Mining
• Farmers growing crops or rearing Farming
livestock
Fishing
• Miners extracting such things as coal,
gold

9.  ExtractiveIndustry – These industries extract
or draw out product from natural resources.
Product of these industries are usually
transformed into many other useful goods by
manufacturing industries.
For e.g. – Mining, Hunting , Lumbering
 Genetic Industry – These Industries remain
engaged in breeding plants and animals for their
use in further reproduction.
For e.g. – Poultry Farming, Breeding Farms
e.t.c

10. JOBS
These are concerned with providing Retail
support Wholesale
services to Primary & Secondary.
Banking
Examples are- &Insurance
Solicitors
Transport Tourism &
Banking Leisure
Insurance Driving
Instructors
Warehousing
Hairdresser
Communication

12. Auxiliaries
Trade to
Trade

13. Trade is an essential part of
commerce. It refers to sale
transfer of exchange of goods.
It helps in making the goods
produced available to ultimate
consumers and users.

14. Trade may be classified into
two broad categories-
Internal Trade
External Trade

15. Internal Trade
This is divided into two categories:
Wholesale : when goods are
purchased and sold in bulk , it is
known as wholesale trade.
Retail : when goods are purchased
and sold in comparatively smaller
quantities , for final consumption it

16. External or foreign trade consist
of the exchange of goods and
services between person or
organisations operating in two or
more countries. It is divided into
three parts-

17. Import : If goods are purchased from
another country, it is called import
trade.
Export Trade : If goods are sold to
other countries it is known as export
trade.
Entrepot Trade : when goods are
imported for export to other countries,
it is known as entrepot trade.

18. These activities help in removing various
hindrances which arise in connection with the
production and distribution of goods.
Parts of Auxiliaries Trade-
Transportation & Communication
Banking & Finance
Insurance
Warehousing
Advertising

19. Objective of business can be
classified into three major
categories :
Organisational Objective
Social Objectives
Personal Objectives

20. Organisational or economic
Objectives
Survival : It is the basic objective of any6
business. Management must ensure the survival
of the organisation .In order to survive, an
organisation must earn enough revenues to cover
costs.
Profit : Only survival is not sufficient for the
business. Management has to ensure that the
organisation makes a profit which is very
important for the success of business.

21.  Social Objectives
Social objectives involve the creation of
benefits for the society. Management of
an organisation must consistently crate
economic value for the society. This
included:
o Supply of quality product at reasonable
prices.
o Using Friendly methods of productions.
o Generating employment opportunities to

22. Personal Objectives
Personal objectives are related to the
employees of the organisation. Management
should satisfy their diverse needs such as-
Financial needs
Social needs
Higher level needs(Personal growth and
development)

23. made by
Vicky Sharm