Question

Define business. Explain 8 charateristics of Business.​

Answer 1

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:

1. Economic activity: Business is an economic activity of production and distribution of goods and services. ...
2. Buying and Selling: ...
3. Continuous process: ...
4. Profit Motive: ...
5. Risk and Uncertainties: ...
6. Creative and Dynamic: ...
7. Customer satisfaction: ...
8. Social Activity:

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