Question

Case study nature and purpose of business class 11th

Answer 1

Case study on Nature and Purpose of Business

Explanation:

• Buying and selling of goods and services is a business. A business transaction can be affected on a cash or credit basis, which is defined by the buyer and seller.
• The business achieves profit motive to fulfill one's growing wants such as food, clothing, etc.,
• A business without profit motive is a social service, hence profit element differentiates a business activity. One may face loss or profit in business for innumerable reasons.

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Nature and Purpose of Business:

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