Question

Business is an integral part of the society. It is to serve the needs of the society- judge the significance of the statement .

Answer 1

Answer:

Business is an integral part of modern society. It is an organised and systematised activity for profit. It is concerned with activities of people working towards a common goal. ... Business helps people in general to improve their standard of living.

Answer 2

The significance of the given statement is described below:

• Because it gives the best solution to consumers' requirements, business is an important aspect of society.
• Customers' needs change as the environment changes.
• As a result, new business ideas are explored in the market, and startups and businesses are formed, with entrepreneurs and business professionals working together to deliver the best solution in the form of a product to consumers.
• Because business is built on consumer demands, and consumer needs may be met by business companies' services and goods, it meets societal needs.
• As a result, the statement is extremely significant.