describe the main characteristics of business.
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
☆ sᴀʟᴇ, ᴛʀᴀɴsғᴇʀ ᴏʀ ᴇxᴄʜᴀɴɢᴇ:-
☞ ᴀʟʟ ʙᴜsɪɴᴇss ᴀᴄᴛɪᴠɪᴛɪᴇs ɪɴᴠᴏʟᴠᴇ sᴀʟᴇ ᴏʀ ᴇxᴄʜᴀɴɢᴇ ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ғᴏʀ sᴏᴍᴇ ᴄᴏɴsɪᴅᴇʀᴀᴛɪᴏɴ. ʙᴜʏɪɴɢ ᴀɴᴅ sᴇʟʟɪɴɢ ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ғᴏʀ ᴀ ᴘʀɪᴄᴇ ᴀʀᴇ ᴛʜᴇ ᴇssᴇɴᴄᴇ ᴏғ ʙᴜsɪɴᴇss.
☆ ᴅᴇᴀʟɪɴɢs ɪɴ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs:-
☞ ᴇᴠᴇʀʏ ʙᴜsɪɴᴇss ᴇɴᴛᴇʀᴘʀɪsᴇ ᴘʀᴏᴅᴜᴄᴇs ᴀɴᴅ/ᴏʀ ʙᴜʏs ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ғᴏʀ sᴇʟʟɪɴɢ ᴛʜᴇᴍ ᴛᴏ ᴏᴛʜᴇʀs. ɢᴏᴏᴅs ᴍᴀʏ ʙᴇ ᴄᴏɴsᴜᴍᴇʀ ɢᴏᴏᴅs ᴏʀ ᴘʀᴏᴅᴜᴄᴇʀ ɢᴏᴏᴅs. ᴄᴏɴsᴜᴍᴇʀ ɢᴏᴏᴅs ᴀʀᴇ ᴍᴇᴀɴᴛ ғᴏʀ ᴅɪʀᴇᴄᴛ ᴜsᴇ ʙʏ ᴛʜᴇ ᴜʟᴛɪᴍᴀᴛᴇ ᴄᴏɴsᴜᴍᴇʀs, ʙʀᴇᴀᴅ, ᴄʟᴏᴛʜᴇs, sʜᴏᴇs, ᴇᴛᴄ.
☆ ʀᴇɢᴜʟᴀʀ ᴅᴇᴀʟɪɴɢs:-
☞ ʙᴜsɪɴᴇss ɪɴᴠᴏʟᴠᴇs ᴀ sᴇʀɪᴇs ᴏғ ᴅᴇᴀʟɪɴɢs. ᴀ sɪɴɢʟᴇ ᴛʀᴀɴsᴀᴄᴛɪᴏɴ ᴄᴀɴɴᴏᴛ ʙᴇ ᴄᴀʟʟᴇᴅ ʙᴜsɪɴᴇss, ʀᴇᴄᴜʀʀɪɴɢ ᴘᴜʀᴄʜᴀsᴇ ᴀɴᴅ sᴀʟᴇ ɪs ᴛʜᴇ ʜᴀʟʟᴍᴀʀᴋ ᴏғ ʙᴜsɪɴᴇss.
☆ ᴘʀᴏғɪᴛ ᴍᴏᴛɪᴠᴇ:-
☞ ᴀ ʙᴜsɪɴᴇss ɪs ɴᴏᴛ ᴄʜᴀʀɪᴛʏ. ᴛʜᴇ ᴘʀɪᴍᴀʀʏ ᴏʙᴊᴇᴄᴛɪᴠᴇ ᴏғ ʙᴜsɪɴᴇss ɪs ᴛᴏ ᴇᴀʀɴ ᴍᴏɴᴇʏ ᴀɴᴅ ᴀᴄǫᴜɪʀᴇ ᴡᴇᴀʟᴛʜ. ᴀ ʙᴜsɪɴᴇss ᴛʜᴀᴛ ᴅᴏᴇs ɴᴏᴛ ᴇᴀʀɴ ᴘʀᴏғɪᴛ ᴄᴀɴɴᴏᴛ sᴜʀᴠɪᴠᴇ ғᴏʀ ʟᴏɴɢ. ᴘʀᴏғɪᴛ ɪs ᴀʟsᴏ ᴇssᴇɴᴛɪᴀʟ ғᴏʀ ᴛʜᴇ ɢʀᴏᴡᴛʜ ᴀɴᴅ ᴇxᴘᴀɴsɪᴏɴ ᴏғ ʙᴜsɪɴᴇss.
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