Question

What is business ? Explain the characteristics of business.





ANSWER IN BRIEF​

Answer 1

Answer:

buying and selling as a way of earning money; commerce.

Explanation:

The following are the ten important characteristics of a business:

Economic activity: Business is an economic activity of production and distribution of goods and services. ...

Buying and Selling: ...

Continuous process: ...

Profit Motive: ...

Risk and Uncertainties: ...

Creative and Dynamic: ...

Customer satisfaction: ...

Social Activity:

Answer 2

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A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities.

There are three key characteristics that must be met to have a business.

• First, businesses must be the result of individuals working together in an organized way.

• Second, businesses must satisfy a societal need.

• Third, businesses must seek to make a profit.