Explain the features of Business
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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.
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What are the features of business?
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:
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