1. Define the characteristics of business activities.
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Answer:
➪ Thus, one essential characteristic of business is that there should be sale or exchange of goods or services between the seller and the buyer. ... Every business invests money (capital) to run its activities with the objective of earning profit. But it is not certain as to what amount of profit will be earned.
Explanation:
➪ Business is defined as an organised economic activity, wherein the exchange of goods and services takes place, for adequate consideration. ... It includes all those activities whose sole aim is to make available the desired goods and services to the society, in an effective manner.
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