Question

Explain the characteristics of modern business

Answer 1

BUSINESS:-

"Business is a human activity directed towards producing or acquiring wealth through buying and selling goods." --- Lewis H. Honey

CHARACTERISTICS OF BUSINESS:-

• An economic activity
• Production or procurement of Goods & services
• Sales or exchange of Goods and services for the satisfaction of Human needs
• Dealing in goods or services om a regular basis
• Profit earning
• Uncertainty of return/risk