Question

2) Explain the characteristics of business.​

Answer 1

The following are the important characteristics of a business:

• Economic activity
• Buying and Selling
• Continuous process
• Profit Motive
• Risk and Uncertainties
• Creative and Dynamic
• Customer satisfaction
• Social Activity

Answer 2

• Sale, Transfer or Exchange
• Dealings in Goods and Services
• Regular Dealings
• Profit Motive
• Risk
• Creation of Utilities
• Economic Activity
• Satisfaction of Consumers
• Growth and Expansion
• Social Institution

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