Download App

Nature, Purpose and scope of Business — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMNature, Purpose and scope of Business3 Marks
Question
Difference between Employment and Business
✓

Answer

Points Employment Business
$1.$ Meaning To get specific compensation to perform the work for specific time assigned by the employer. Any economic activity done with the objective of profit.
$2.$ Objective Objective is to get specific salary or wages. Objective is to gain maximum profit.
$3.$ Uncertainty of Income In employment income (salary ) or wages are regular. Profit in business is not regular and fixed.
$4.$ Risks During the period of employment person does not have to take risk. Owners of the business has to take risk that, fire, robbery, accident, loss etc.
$5.$ Inclusion Employment includes physics and mental work intention to provided services. Business activities include both industry and commerce.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Each" from Nature, Purpose and scope of Business→Nature, Purpose and scope of Business — all question types→OCM STD 11 Commerce question papers→Gujarat Board STD 11 Commerce question papers→Gujarat Board question paper generator→

Similar questions

Through sole proprietorship direct contact with customers of employees is possible" - Explain.
→
Show the classification of business enterprise according to scope.
→
Define government company and write note on its features.
→
Explain the difference between What is economic and non – economic activity
→
Explain briefly the different incentives for export trade.
→
Write Short Note on Inter corporate Deposits :
→
"You placed an order on an e-commerce website, but your payment has been deducted, and the seller claims they have not received the order. What steps should you take to ensure transaction security in this situation?"
→
Explain the difference between Ethics and law.
→
"No upliftment without Co-operation" applies to all - Explain the statement.
→
"In Sole Proprietary firm's secrets are maintained." Discuss.
→