Evolution And Fundamentals Of Business

Teaching one's own daughter is an example of a non-economic activity because it does not involve any exchange of money or goods. It is a personal and familial responsibility that is not driven by financial gain. The act of teaching in this context is motivated by love, care, and the desire to educate and nurture the daughter, rather than any economic benefit.

This statement is false because a single transaction of sale or purchase of goods cannot be considered as a business. Business involves a continuous and regular activity of buying and selling goods or providing services in order to make a profit. A single transaction does not meet the criteria of being a business as it lacks the element of continuity and regularity.

The statement is false because risk arising due to theft is not an example of speculative risk. Speculative risk refers to situations where there is a chance of both gain and loss, such as investing in the stock market. On the other hand, risk arising due to theft is an example of pure risk, where there is only a possibility of loss and no chance of gain.

Employment refers to an economic activity where individuals work for others and receive payment in return. It involves a contractual agreement between an employer and an employee, where the employee provides their services or skills in exchange for a salary or wages. Employment is a fundamental aspect of the economy as it generates income for individuals and contributes to overall economic growth. It also provides individuals with opportunities for personal and professional development.

Speculative risks involve the possibility of both gain and loss. These types of risks are typically associated with investments or ventures where the outcome is uncertain and the potential for profit or loss exists. Unlike pure risks, which only involve the possibility of loss, speculative risks offer the potential for financial gain as well. Individuals or organizations engaging in speculative risks are willing to take on uncertainty and potential losses in the hopes of achieving higher returns or profits.

The features present in a profession are: fee is the reward for rendering professional services, little capital is required, and it is an economic activity. These features suggest that a profession involves providing services in exchange for a fee, requires minimal investment, and is a part of the economy.

The term "entrepot" refers to a specific type of trade where goods are imported with the intention of exporting them to other countries. This trade involves the temporary storage and distribution of goods in a particular location, often a port or free trade zone, before they are shipped to their final destination. The entrepot trade allows for efficient international trade by facilitating the exchange of goods between different regions, reducing transportation costs, and promoting economic growth.