Explain the characteristics of modern business
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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
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