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प्रश्न
Answer in brief.
State any four features of business.
उत्तर
Business is an economic activity which is done to earn a profit.
The following are the features of business:
- An economic activity: Business is an economic activity. Because it is done to earn profit for livelihood.
- Two parties: Business is mainly concerned with the production and distribution of goods and services. It means business transactions involve exchange and in any exchange two parties are involved. Thus business involves two parties.
- Profit motive: Every business is done with a motive of making a profit. Therefore all the activities of business revolve around profit. A businessman is not satisfied with the profit he gets, but he tries to maximize the profit either by increasing the production or by reducing the cost. He tries to find out new customers and new markets.
- Production of Goods and Services: Business includes the production of goods and services. Raw materials are used and the finished goods are produced.
APPEARS IN
संबंधित प्रश्न
Match the pairs:
| Group ‘ A’ | Group ‘ B’ |
| A) Helping disabled person | 1) Social objective |
| 2) Genetic Industry | 2) Foreign Trade |
| C) Local currency | 3) Sericulture |
| D) Solve social problems | 4) Non-economic activity |
| 5) Internal Trade | |
| 6) Mining | |
| 7) Profit | |
| 8) Economic activity |
Correct the underlined word and rewrite the sentence.
Barter exchange is an exchange with money
Correct the underlined word and rewrite the sentence.
Commerce represents supply side of market.
Explain the following term/concept.
Business
Study the following case/situation and express your opinion.
Jaysukh oil mills produce refined oil. The entire production is purchased by Rupesh Oil Depot, Who in turn sells it to various retailers. Mrs. Prachi purchased 2kg oil from Balaji Groceries. Identify:
- Wholesaler
- Retailer
- Consumer
Study the follow ing case/situation and express your opinion.
Mr. Pranav is a tin manufacturer in India. Mr. Jack of England sells goods to M/s Frank Corporation in North America and Mr. Williams of USA buys various goods from Brazil.
- Who is the importer?
- Who is the manufacturer?
- Who is the exporter?
Distinguish between:
Business and Commerce.
Attempt the following.
What do you mean by commerce?
Attempt the following.
What is the meaning of export trade?
Attempt the following.
Define business. Explain its features.
