Question

2. After completing their graduation Salman and Ram decided to set up a flour mill to earn income. Their
main job is to purchase wheat from the market and have ground it into flour. Their flour is available in
the packets of 5 kg 10 kg and 20 kg. They sell these under the brand name Desh ka Atta', and earn a
reasonable profit of 10% on cose. They worked very hard to flourish the business on a regular basis, and
hence in no time their brand became very popular in the market. The main reasons for the success of
their business are superior quality and low price. Their business was running very well. But one day, the
flour mill caught fire, and as a result they had to suffer a heavy loss. However, Salman and Ram did not
lose their heart and worked even harder. Gradually, their business was back to normal. Now, they are
fully satisfied with their business
Quoting the lines from the above para, explain any four characteristics of business​

Answer 1

Answer:

1. Business can be formed by two or more persons.
2. Purchase and sale of Goods.
3. Production of Goods.
4. Profit motive.
5. No need of special knowledge

Explanation:

1. Salman and Ram are the two partners of the business and they have only completed their graduation,no special education is needed.
2. They purchased wheat from the market and sell their produced flour.
3. The production of flour from wheat is involved.
4. They earn a profit of 10%.