Question

Management is requried to conduct business as well as non-business activity. (State with reason whether the given statement is true or false)

Answer 1

The above statement is true.

Management is required to conduct business as well as non-business activity.

This is because management is required to achieve a goal in a cost-effective way.

In addition, management is beneficial to the optimal utilization of the resources.

Whether for the business activity where the primary purpose of making a profit or non-business activity in both of the scenarios management helps to achieve an equilibrium which leads to better economic production.