Question

Meaning of Business:
(a) Manufacturing of goods
(b) Sale and purchase of goods
(c) Advertisement of goods
(d) Any economic activity

Answer 1

Answer:

b)sale and purchase of goods

Answer 2

Answer:

Any economic activity refers to business. It refers to the production, buying and selling of goods and services. It is associated with earning profits for the respective organisation or institution.

There can be four classifications of business: Corporation, Partnership, Sole Proprietorship and Limited Liability Company. Such economic activities involve production, distribution, and also the consumption of the respective goods and services that ultimately benefits the nation.