Question

if a person sells his domestic computer at a profit, will it be considered a business ? also explain the characterstics of business which is being stressed upon in the above said example

Answer 1

It is termed as a business when a person sells a domestic computer on profit. From the initial definition of a business any transaction made with an aim of getting profit is called a business activity. A business comprises of two parties that is the seller or the buyer. There is exchange of goods and services from one party to another ad there is profit generation in that case.