Question

Explain briefly any three characteristics of business.

Answer 1

This external business environment is composed of numerous outside organizations and forces that we can group into seven key subenvironments, as (Figure) illustrates: economic, political and legal, demographic, social, competitive, global, and technological

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Answer 2

ᴀɴsᴡᴇʀ:-

ᴀɴs. ғᴏʟʟᴏᴡɪɴɢ ᴀʀᴇ ᴛʜᴇ ᴄʜᴀʀᴀᴄᴛᴇʀɪsᴛɪᴄs ᴏғ ʙᴜsɪɴᴇss :

(ɪ) ᴀ ʙᴜsɪɴᴇss ᴄʀᴇᴀᴛᴇs ᴜᴛɪʟɪᴛʏ ɪɴ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs.

(ɪɪ) ᴛʜᴇʀᴇ ɪs ᴀ ᴄᴏɴᴛɪɴᴜɪᴛʏ ɪɴ ᴅᴇᴀʟɪɴɢ ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs.

(ɪɪ) ᴛʜᴇ sᴀʟᴇ, ᴛʀᴀɴsғᴇʀ ᴏʀ ᴇxᴄʜᴀɴɢᴇ ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ғᴏʀ ᴀ ᴘʀɪᴄᴇ ɪs ᴛʜᴇ ʙᴀsɪᴄ ғᴇᴀᴛᴜʀᴇ ᴏғ ʙᴜsɪɴᴇss.

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