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Explain meaning & characteristics of business |
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Answer» Business is that economic activity which is done regularly to earn profit through the purchase and saled of goods a d services... Business -buying and selling of goods and services on regular basis in order to earn profits business is an economic activity involving purchase, manufacturing and selling goods and services with the motive of profit by satisfying human needs in the societyCharacteristics:-1. An economic activity 2. Production or procurement3. Sales and exchange of goods and services for satisfaction4. Dealing in goods and services on regular basis5. Profit earning6. Uncertainty of goods7. Element of risk |
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