Question

3. Shreya and Vrinda joined together and established a partnership firm dealing in electronic goods. Each
one of them looks after one particular department. They had made it certain that every Saturday they
would hold a meeting and share the information on the activities of their respective departments. In one
of their meetings, they discuss about some key areas on which they should focus their attention.
Shreya says, "we should focus on increasing productivity and profits through the best use of available
resources."
On the other hand, Vrinda says, "we should keep clear of the anti-social activities like adulteration,
hoarding and profiteering, and contribute to the benefits of the society like opening charitable
dispensary, educational institution, etc.
What are the objectives of business Shreya and Vrinda focusing on? Explain.​

Answer 1

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Answer 2

What are the objectives of the business Shreya and Vrinda focusing on?

Explanation:

• Shreya's business focuses on 'Economic Objectives.' Vrinda's business focuses on 'Social objectives.'

• 'Economic objective' based business focuses mainly on earning profit out of business.

• This kind of business takes income over the expenses. They also work for the growth of the business by increasing sales, products, turnovers, employees, etc.

• 'Social objective' based business focuses mainly on the welfare of society.

• This kind of business will never do unfair practices that might go against the moral values of society.

• They sometimes spend business profits on charity and societal welfare.