A person can hope to understand and tackle problems of business properly only if he has some knowledge of the business world, business activity and its organization and the relationship of business with the world around it.
Human life is built around work. Whether one likes it or not, work is an essential part of life. Numerous and varied are the activities that a man undertakes during his life-time. There are certain activities which are related to the production and exchange of wealth. They are called economic activities. All of them involve working to earn a livelihood and are called occupations. Example A lawyer goes to the court, a teacher go to the school, worker to the factory etc to earn a living by producing wealth in different forms. These are all instances of human occupations. They are classified into three categories.

1. Professions
2. Employment
3. Business