Explain the characteristics of business?
Answers
Answered by
2
To lead the life every individual had to engage in some activity. Generally the activities are classified into two types .They are economic activity and non economic activity .
Definition:
" A human activity directed towards producing or aquarium wealth by the sale of goods and services .- LH HANEY"
Characteristics of business:
1. creation of utility
2.Dealing with goods and services
3.continuity in dealings
4.Transfer of ownership through sale, transfer and exchange.
5.Profit motive
6.Risk and uncertainty
7. Economic activity
8.Art as well as science
Definition:
" A human activity directed towards producing or aquarium wealth by the sale of goods and services .- LH HANEY"
Characteristics of business:
1. creation of utility
2.Dealing with goods and services
3.continuity in dealings
4.Transfer of ownership through sale, transfer and exchange.
5.Profit motive
6.Risk and uncertainty
7. Economic activity
8.Art as well as science
Answered by
0
Answer:
Concept and Characteristics of Business
Suggested Videos. Classification of business. ...
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.
Similar questions