a person purchased two quintal of rice from a farmer of his village and sold it in the mandi of near by town thereby earning Rs1000 as profit.Is it business? If not give reason when can it be called business?
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Yes, this is a business because he made the purchase and he sold rice for money.he has earned Rs.10000 as his profit.business is any exchange of objects big or small for money.when the man purchased rice he made an investment.later he further sold the rice in mandi in exchange of money.
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