Jul 7th, 2015
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Academy of Art University
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MODULE - I2INDUSTRY AND COMMERCEIntroduction toBusinessNotesBusiness represents organized efforts by an individual or group of individualsengaged in making a living. The term business has been defined by differentauthors in their own way. According to Urwick and Hunt, Business is anyenterprise which makes, distributes, or provides any article or service, whichother members of the community need and are able and willing to pay for. It,therefore, includes all those activities which involve production or purchaseof goods or rendering of certain services with the object of selling them at aprofit. Business comprises all profit seeking activities and enterprises thatprovide goods and services necessary to an economic system.OBJECTIVESAfter studying this unit, you will be able to:classification of business activities;industry and its types;commerce- trade and its auxiliaries;define the term e-commerce;describe the categories of e-commerce; anddiscuss the advantages of e-commerce.2.1 CLASSIFICATION OF BUSINESS ACTIVITIESThe basic cause of all productive activities is the unlimited wants of human beingand the need to satisfy them. Human wants are many and also complex in nature.Though the basic requirements of human beings are three viz., food, clothingand shelter. We are consuming many other things which have to be generallypaid for. For example tooth paste and soap you use, the bread you eat, the furnitureyou use,

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