Question

Explain the chareteristics of business

Answer 1

Answer:

Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy the needs of customers. Businesses can be both profit or non-profit organizations that function to gain profits or achieve a social cause respectively.

The following are the ten important characteristics of a business:

Economic activity: Business is an economic activity of production and distribution of goods and services.

• Buying and Selling:
• Continuous process:
• Profit Motive:
• Risk and Uncertainties:
• Creative and Dynamic:
• Customer satisfaction:
• Social Activity:

Explanation:

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