Question

What is business ? Explain the characteristics of business.​

Answer 1

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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.

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Answer 2

Explanation:

A business is the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. There are three key characteristics that must be met to have a business: ... Second, businesses must satisfy a societal need. Third, businesses must seek to make a profit