People remain especially confused between vocation and profession as they have similar meanings and often used interchangeably by people. Job, occupation and career all relate to the same thing -- what you do to earn your living. IRS Small Business Week Tax Tip 2017-04, May 3, 2017 Millions of people enjoy hobbies that are also a source of income. These include, employment, job, profession, vocation, occupation, and so on. Once you understand that a job is something that comes under a profession, then the confusion between profession and job will disappear. Distinguish between business,profession and employment - 10215140 These are the differences between profession and job. Entrepreneurship most commonly manifests in the form of self-employment. Comparison of business, profession and employment: Business refers to those economic activities which are connected with the production or purchase and sale of goods or supply of services with the main object of earning profit. Answer:- Economic activities may be divided into three major categories (i) Business Business refers to those economic activities, which are connected with the production or purchase and sale of goods or supply of services with the main object of earning profit. ... there are differences between vocation and profession that will be brought out in this article. Distinguish between Business Profession and Employment on the following basis : asked Apr 10, 2018 in Class XI Business Studies by priya12 ( -12,631 points) natureofbusiness Differences between Business, Profession and Employment Employment Basis of difference Business Profession Employment 1. Understanding the differences can help you figure out what it is you want to do for a living. Many of us want job that is employment but many of us want to start business also. Performing work according to the orders of the employer with no discretion. • A profession has many jobs, and a job is only a part of a profession. Profession and occupation are almost the same, with only minor differences between them.. One of the biggest differences between self-employment and employment … Q.2:- Compare business with profession and employment. Ten important differences between occupation and profession are discussed in this article. Occupation vs Profession. Specialized personal services for a fee with discretion to work. The difference between these terms is more than semantics. Nature of work Supply of goods and services to the customers for money. The difference between occupation and profession can be stated with a simple example: Designing a building would be called a profession, whereas, constructing a building is an occupation. An entrepreneur is someone who starts a new organization – a business, or takes on an existing organization with the intent to revitalize it. The words occupation and profession are interchangeable. 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