business What is a Business and Characteristics of Business and Component of Business
Answers
Answer:
Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy the needs of customers. Businesses can be both profit or non-profit organizations that function to gain profits or achieve a social cause respectively.
Explanation:
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a person's regular occupation, profession, or trade.
"experts who typically conduct their business over the internet"'
commercial activity.
"firms who want to do business with Japan"
The following are the ten important characteristics of a business:
Economic activity: Business is an economic activity of production and distribution of goods and services. ...
Buying and Selling: ...
Continuous process: ...
Profit Motive: ...
Risk and Uncertainties: ...
Creative and Dynamic: ...
Customer satisfaction: ...
Social Activity:
9. Government control:
10. Optimum utilisation of resources: