15. What is business ? Explain the characteristics of business.
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Explanation:
Characteristics. There are three key characteristics that must be met to have a business. First, businesses must be the result of individuals working together in an organized way. Second, businesses must satisfy a societal need. Third, businesses must seek to make a profit.
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It is an economic activity which takes place on a regular basis with the objective of earning Livelihood/Profit/Money's worth.
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