Question

Business is an Economic Activity. Explain
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Answer 1

Answer:

Business is considered an economic activity because it is concerned with production, purchase, sale or distribution of goods and Services with an aim of earning profit.

Answer 2

Business is primarily undertaken with an objective to earn money to finance one’s livelihood. It can be said that the sole motive with which a business is run is profit. That means, the decision to carry-out a business is not out of love or to perform charitable activities. Hence, business is considered an economic activity.

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