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Define economic and non-economic activities.


Economic activities :


1. These activities are based on economic motives like production of sugar, cement etc.

2. People expect profit or money income.


Non-economic activities :

1. These activities are based on social and psychological motives.

2. People do not expect profits or money income.

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Explain the concept of business.

Write any three features of profession.
 

Define the term 'industry'.

Define 'Commerce'.

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