Question

‘Business is essentially a social institution and not merely a profit making activity’. Explain

Answer 1

Answer:

Business is essentially a social institution and not merely a profit making activity'. Explain. Answer: ... Therefore, a business enterprise is expected to do business and earn money in ways that fulfill the expectations of the society.

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Answer 2

Answer:

A business enterprise is permitted by society to carry on industrial or commercial activities and earn profits from it. Therefore, a business enterprise is expected to do business and earn money in ways that fulfill the expectations of the society.