Question

What is a Business and Characteristics of Business and Component of Business???
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Answer 1

Answer:

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.

Explanation:

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Answer 2

Answer:

Answer:According to well- known professors William pride, Robert Hughes , and Jack kapoor, business is ' the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. A business then, is an organization which seeks to make a profit through the individuals goals . The goals of the business will vary based on the type of business and the business strategy being used. Regardless of the preferred strategy, business must provide a service, product, or good that meets a need of society in some way.

Explanation:

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