1. a) Garima bought a readymade dress for 5000. Her friend liked the
design of the dress very much, so Indu sold the same dress to her
friend for 5500 a profit of rupees 500 can transaction
between Indu and her friend be termed as business ? Also explain
the characteristic of business which is stressed upon in the above
example.
b) Name and explain the two characteristics of business which involves
possibility of loss.
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( a) I think it is not a business because only one time gain profit is not a business because business is a continuous process.
I think PROFIT characteristics is perfect because she earn some money.
(b) 1. RISK and UNCERTAINTY = risk is available in every stage. in this the possibility of loss is mentioned but not every time if we take risk more and fo hardwork so we gain profit also.
2.creative and dynamic = if the business is not going on according to the time so we also face the loss but if we do creativity and perform dynamic process so we gain sucess.
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