Pls answer...BST Q
Dear student,
Economic activity of Dr. Vikrant- Profession
economic activity of Dr Ekta - employment
profession and employment can be compared as shown in the chart below.
| Basis of distinction | Profession | Employment | |
| 1. | Commencement | A profession can be commenced only after the successful completion of a (professional) degree or a certificate course. | Employment commences when the appointment letter and the service agreement are signed by the employer and the employee. |
| 2. | Investment | Limited capital investment is required. | Capital is not required. |
| 3. | Risk involved | A comparatively low degree of risk is involved. | Negligible risk involved. |
| 4. | Transfer of ownership | Ownership cannot be transferred as a professional has acquired the required degree and the skills only for himself or herself. | Ownership is not possible. |
| 5. | Reward or remuneration | Professional fees | Salary |
| 6. | Code of conduct | As prescribed by the professional association concerned. | As per the terms and conditions laid down by the organisation concerned. |
| 7. | Qualification | Prescribed professional qualification is necessary. | Depends upon the nature of the job. For instance, for the blue-collar jobs, low educational qualifications are adequate, whereas higher qualifications are required for white-collar jobs. |