define business And its feature
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:
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:
Explanation:
A buisness is defined as an organisation entity that is engaged in industrial, commercial and professional activities. It also refers to the organised efforts and activities of individual to produce and sell goods and services for profit
Features
. buying and selling
. profit motive
. continuous process
. risk and uncertainties
. customer satisfaction
. optimum utilisation of resources
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