Loreto Entally Class 12 - Commerce

Human Activities are all those activities which are undertaken by human beings to satisfy human wants which are unlimited. These activities are undertaken throughout life and have a very wide range, Some of the human activities (e.g, working in an office, factory or shop) produce direct economic benefits and other human activities (e,g, praying, playing, sleeping) produce no direct economic benefits. The following diagram shows the classification of human activities : Economic Activites:     Non - Economic Activities:                        

After understanding the meaning of Joint Stock Company, now its time to learn its features. The following video will not only help you understand its features but also learn about different types of companies.

The Industrial Revolution created the modern factory system involving production on a very large scale. Mass production required huge capital investment and heavy risks. Sole proprietorship and partnership forms of organizations could not meet these requirements due to shortage of funds, uncertain existence and unlimited liability. Thus, the company form of organization came into existence due to the limitations of proprietorship and partnership forms of business organization.  Here is a short video on the Joint Stock Company explaining its meaning and existence more clearly. Examples:                                                                                                            ...

The  three-sector theory  is an  economic  theory which divides economies into three sectors of activity: extraction of raw materials ( primary ), manufacturing ( secondary ), and services ( tertiary ). Here is a short video which explains the difference between the Primary, Secondary and Tertiary sectors of the economy.