Question

Describe essential features of business. What are the main objectives of business? ​

Answer 1

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$\huge\boxed{\fcolorbox{red}{yellow}{Economic objectives}}$

Earning of profits. Exploring new markets and creating more customers. Growth and expansion of business operations of the firm. Making innovations and improvements in goods and services.

$\huge\boxed{\fcolorbox{red}{yellow}{Features of Business:}}$

There are five broad features of business:

❥ Dealings in goods and services: Business deals with goods and services. Goods are divided into consumer goods like bread, butter, shoes, shirt etc. and producer goods like machinery, tools, equipment etc. It also deals with services like transport, banking, insurance etc.

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