Question

what is the difference between economic objectives and social objectives of business? Briefly explain the economic objectives of business.

Answer 1

Financial goal of business refers back to the primary purpose of earning revenue through the industry. Alternatively, social function of business refers back to the foremost objective of working towards the society at gigantic.

The next are the fiscal targets of industry:
earning profit: this is the primary function of industry. Revenue is the reward for the businessmen to undertake the dangers.
Survival: business have got to intention to survive out there in the end. This is achieved by using giving due consideration to competition, customer desires, executive regulation, and so forth.
Progress and progress: an extra function of business is to develop and improve continually as a way to obtain greater market share and earn better gains.

Answer 2

The next are the fiscal targets of industry:
earning profit: this is the primary function of industry. Revenue is the reward for the businessmen to undertake the dangers.
Survival: business have got to intention to survive out there in the end. This is achieved by using giving due consideration to competition, customer desires, executive regulation, and so forth.
Progress and progress: an extra function of business is to develop and improve continually as a way to obtain greater market share and earn better gains.