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Difference between Commercial and Non Commercial Activities, Class 11 Video Lecture - Commerce
FAQs on Difference between Commercial and Non Commercial Activities, Class 11 Video Lecture - Commerce
| 1. What is the difference between commercial and non-commercial activities? |  |
Ans. Commercial activities refer to those activities that are undertaken with the primary objective of earning a profit. These activities involve the production, distribution, and sale of goods or services in the market. On the other hand, non-commercial activities are those activities that are not driven by profit-making motives. These activities are often carried out by individuals or organizations for social welfare, charity, or personal satisfaction, without any intention of making a profit.
| 2. Give examples of commercial activities. | |
Ans. Examples of commercial activities include buying and selling of goods, manufacturing, advertising, banking, insurance, transport, tourism, real estate, and e-commerce. These activities are conducted with the aim of generating income and making a profit.
| 3. Can non-commercial activities generate any income? | |
Ans. While non-commercial activities are primarily driven by non-profit motives, it is possible for them to generate some income. Non-commercial activities may receive grants, donations, or sponsorships that can contribute to their financial sustainability. However, the primary objective of these activities is not to earn a profit but to fulfill social or personal objectives.
| 4. How do commercial and non-commercial activities contribute to the economy? | |
Ans. Commercial activities play a vital role in the economy as they contribute to economic growth, employment generation, and tax revenues. These activities stimulate investment, innovation, and competition, leading to overall economic development. On the other hand, non-commercial activities contribute to the social and cultural development of society. They address social issues, provide healthcare, education, and other essential services, and contribute to the overall well-being of individuals and communities.
| 5. What are the legal requirements for engaging in commercial activities? | |
Ans. Engaging in commercial activities often requires complying with various legal requirements. These may include obtaining necessary licenses, permits, and registrations, adhering to tax regulations, following labor laws, maintaining proper accounting records, and ensuring compliance with consumer protection and environmental regulations. It is important for businesses to understand and fulfill these legal obligations to operate smoothly and avoid legal consequences.
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