Defining Business and Profession

Introduction
Business and profession are two important terms in the field of commerce. Both of them involve the production and sale of goods and services, but there are some key differences between the two.

Definition of Business
Business is defined as the production and sale of goods and services with the motive of earning a profit. It involves activities like manufacturing, trading, and rendering services to customers. The main objective of any business is to maximize profits by providing value to customers in exchange for money.

Definition of Profession
A profession, on the other hand, is a specialized field that requires a specific set of skills and knowledge. It involves activities like providing expert advice, consultation, and services to clients. Professions are usually regulated by professional organizations and require specific qualifications and certifications.

Differences between Business and Profession
There are several key differences between business and profession, including:

- Objectives: The main objective of a business is to earn a profit, while the main objective of a profession is to provide expert services to clients.
- Skills and knowledge: Businesses require a broad range of skills and knowledge, while professions require specialized skills and knowledge.
- Regulation: Professions are usually regulated by professional organizations, while businesses are regulated by government agencies.
- Liability: Professionals are often held to a higher standard of liability than businesses, due to the specialized nature of their work.

Conclusion
In conclusion, business and profession are two important terms in the field of commerce. While they both involve the production and sale of goods and services, there are significant differences between the two. Understanding these differences is important for anyone looking to enter the world of commerce.

No this statement is not correct as through my prospective of mind because a business do not have only motive of earning profit it has multiple objective of having a business like innovation, taking care of surrounding and also his /her goodwill and reputation etc. He should maintain this all and then only he /she would earn a good profit.