Question

what is meant by business? discuss the characteristic of business​

Answer 1

Answer:

The definition of business is an occupation or trade and the purchase and sale of products or services to make a profit.

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.

Explanation:

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Answer 2

Answer:

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 profite.

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