case studies of ch 1 nature and purpose of business
Answers
Business -
Meaning- Business is a process of creating money through the exchange of goods and services among the parties of seller and buyer to earn the profit.
Purpose of the business -
To earn a profit - The main concept behind the mind of the businessman is to earn the profit from the money they have invested to create money.
Growth of the business - After, earning a profit from the running business. The next step is to grow the business on the different levels of the economy.
Maintain economy stability - Maintain the economic stability of the running business in the economy for the long term is considered as the vision and mission through Different goals.
Increase market share - To occupy a good market share is a symbol for any business that it's doing well in the economy market regarding its competitors.
Answer:
Ques- "profit is not an objective but a requirement of business ". Do you agree with this statement ? support your answer
Explanation:
yes , I agree with this statement because of following reasons
: survival
: growth
: reward for risk bearing