Describe the characteristics of business.
Answers
Answer:
Some of the characteristics of business are as follows:-
1. Sale, Transfer or Exchange
2. Dealings in Goods and Services
3. Regular Dealings
4. Profit Motive
5. Risk
6. Creation of Utilities
7. Economic Activity
8. Satisfaction of Consumers
9. Growth and Expansion
10. Social Institution
11. Continuous Process
12. Exchange of Goods and Services
13. Dealing in Numerous Transactions
14. Possession of Managerial Skills for Economic Success
15. Buyer and Seller
16. Connected with Production
17. Dealing in Goods and Services
18. Marketing and Distribution of Goods
19. Motive to Satisfy Human Wants
20. Managing Human Resources
21. Profit Earning
22. Uncertainty of Return
23. Regularity in Dealings
24. Profit Motive and a Few Others.
Answer:
Concept and Characteristics of Business
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Economic Activity. Business necessarily has to be an economic activity. ...
Production or Trading of Good or Services for Sale. ...
Sale or Exchange of Goods and Services. ...
Regularity in Dealings. ...
Profit Earning. ...
Risk Factor. ...
Uncertainty of Returns.