Question

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

Answer 1

Answer:

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.

The main objective of any business is to earn a profit. Just as a plant cannot survive without water, similarly a business cannot sustain without profit. Profit is necessary for growing and expanding business activities.

Explanation:

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