Question

explain Exchange or Sale of Goods and
Services for the Satisfaction of Human Needs


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Answer 1

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• Every business activity includes an exchange or transfer of services and goods to earn value.

• Producing goods for the goal of personal consumption is not included in business activity.

• So, there should be the process of sale or exchange of goods or services exits among the seller and the buyer.

Example:

A lady who bakes pastries and cakes at home and sells it to the pastry shop is a business activity.

Answer 2

Answer:

Businesses may defined As the regular production and sale of goods or services undertaken with the objective of earnings of profit and accuring wealth through satisfaction of human needs.