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 Rs 1000 as profit. is it business? if it is a business give reason and if it is not, give reasons . 40 to 60 words answer
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No, I don't think it is a business... The reason is that Business is an economic activity in which the person buy and sell goods regularly for earning profit. And I don't think that the person buy and sell rice regularly....
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We cannot state this as business,as business cannot be done on a single day only and as per the definitions ,the act which is done on a regular basis in terms of earning money or a living then it can be termed as business and in here the person is only doing it on a single day but not in a continuous manner so it can't be started as business.
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