Question

what is meant by profession? state any two characteristics of business in about 40 to 60 words.

Answer 1

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.'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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