Posted by Sanjay Gupta 4 weeks, 1 day ago
|Following are the characteristics or features of business|
|(1) An Economic Activity||
Wholesaler sell goods to the retailers and retailers sell goods to the customers.
|(2)Manufacturing or Procurement of Services and Goods||
Individual retailer buys the toffees from wholesalers in a specific quantity and sells it to the ultimate consumer.
|(3)Exchange or Sale of Goods and
Services for the Satisfaction of Human Needs
A lady who bakes pastries and cakes at home and sells it to the pastry shop is a business activity.
|(4) Dealings With Goods and Services on a Daily Basis||
If a person sells his old car through OLX even at a profit will not be considered as a business activity. But if he is engaged in regularly trading of cars at his showroom will be considered as business activity.
|(5) Profit Earning||
A business house tries to reduce the cost of production and the cost of raw material to earn high profits.
Posted by Ishu Butola 1 day, 22 hours ago
Posted by Naitik Sahu 1 day, 19 hours ago
Posted by Natasha Mishra 3 days, 13 hours ago
Create papers in minutes
Print with your name & Logo
Download as PDF
3 Lakhs+ Questions
Based on CBSE Blueprint
Best fit for Schools & Tutors
No software required, no contract to sign. Simply apply as teacher, take eligibility test and start working with us. Required desktop or laptop with internet connection