Question

the economic objective is​

Answer 1

Answer:

Economic objectives of business refer to the objective of earning profit and also other objectives that are necessary to be pursued to achieve the profit objective, which include, creation of customers, regular innovations and best possible use of available resources.

Answer 2

The economic objective refers to earning profit and other objectives that are essential to be followed to attain the profit objective, which encompasses, the creation of consumers, established innovations and the best feasible use of accessible resources.

• Profit is the lifeblood of business, without which no business can withstand an active market.
• A business unit cannot survive unless there are consumers to purchase the products and services.
• Innovation implies changes, which provoke development in products, the process of production and the distribution of goods.
• As we all know, to operate any business we must have adequate capital or funds.
• All businesses should strive to make the best feasible use of these resources. Employing productive workers. Making full use of machines and minimizing the wastage of raw elements, can accomplish the economic objective.

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