Profit is the basic motivation for any business, but it has to be tempered with humanity, respect and ethics. The profit motive is a good of value to the economy. It is needed to provide incentive to generate efficiency and innovation. However over-remuneration of the profit motive creates profit inefficiency. The profit motive refers to an individual's drive to undertake activities that will yield net economic gain. Because of the profit motive, people are induced to invent, innovate, and take risks that they may not otherwise.

Commerce concerns itself with all those activities that ensure a free and smooth flow of goods and services from producers to consumers.
It consists of trade, and the activities which facilitate trade.
These hindrances have been described below :
1. Hindrance of place: Very often goods are produced at places far away from the points of consumption. Various means of transportation remove this barrier of distance and help to establish a link between the two. Packaging of goods to protect them from damage and pilferage in the course of transit, help remove the hindrance of place and thereby creates place utility.

2. Hindrance of person :The manufacturers and ultimate-consumers of goods are often unknown to each other. They are not always situated at the same place. Therefore, certain people, called traders, are required to bridge the gap between them.

3. Hindrance to Time: Goods are generally produced in anticipation of demand. Therefore, it becomes necessary to store them and make them available as and when the consumers demand them.

Business is defined as an organised economic activity, wherein the exchange of goods and services takes place, for adequate consideration. It includes all those activities whose sole aim is to make available the desired goods and services to the society, in an effective manner. 

The important characteristics of a business:

1. Economic activity:

Business is an economic activity of production and distribution of goods and services. It provides employment opportunities in different sectors like banking, insurance, transport, industries, trade etc. it is an economic activity corned with creation of utilities for the satisfaction of human wants.

2. Buying and Selling:

The basic activity of any business is trading. The business involves buying of raw material, plants and machinery, stationary, property etc. On the other hand, it sells the finished products to the consumers, wholesaler, retailer etc. Business makes available various goods and services to the different sections of the society.

3. Continuous process:

Business is not a single time activity. It is a continuous process of production and distribution of goods and services. A single transaction of trade cannot be termed as a business. A business should be conducted regularly in order to grow and gain regular returns.

4. Profit Motive:

Profit is an indicator of success and failure of business. It is the difference between income and expenses of the business. The primary goal of a business is usually to obtain the highest possible level of profit through the production and sale of goods and services. It is a return on investment. Profit acts as a driving force behind all business activities.

 

Yes

Yes..

Various types of industries are:

1. Primary- Industries which deal with obtaining or offering raw materials which are processed as commodities for the customers. Example: Farming, Fishing
2. Secondary-  Industries which are essentially manufacturing or assembling industries. It receives raw materials from primary industries and processes them to commodities for the customers. Example: Food manufacturing, Textile manufacturing
3. Tertiary- These industries act as a support system to the primary and secondary industries. It is also known as the service industry or the service sector. Example: Banking, Transport.

BUSINESS QUALIFICATION - no minimum qualification is necessary MODE OF ESTABLISHMENT - entrepreneur's decision and other legal formalities if necessary RETURN - profit earned RISK - profit are uncertain and irregular therefore risk is present CODE OF CONDUCT - no code of conduct is prescribed PROFESSION QUALIFICATION - expectise and training in specific field is must MODE OF ESTABLISHMENT - membership of a professional body and certificate of practice RETURN - professional fees RISK - fees is generally certain and regular therefore some risk CODE OF CONDUCT - professional code of conduct is to be followed EMPLOYMENT QUALIFICATION - qualification and training as proscribed by the employer MODE OF ESTABLISHMENT - appointment letter and service agreement RETURN - salary or wages RISK - fixed and regular pay therefore no risk CODE OF CONDUCT - norms of behaviour laid down by the employer are to be followed

Common corporate functions of any enterprise involve the efficient management of organizational resources and entities such as finances, employees, suppliers, customers, partners, and other assets such as equipment, materials, parts, supplies and property.

1. Hindrance of person:

This hindrance refers to the lack of contact between producers and consumers. The producer is faced with the problem of finding the buyers who need the goods he has produced and who are able and willing to buy such goods.

The consumer does not know the source of supply of goods which would satisfy his needs at prices he can afford. Commerce removes this hindrance by means of trade.

Trade provides an organised market where the buyers and sellers can contact each other. It saves both producers and consumers from the time-consum­ing and expensive exercise of locating each other.

2. Hindrance of place:

A major problem faced by producers is to send their goods to distant places without loss through theft, pilferage, damage, etc. Commerce solves this problem by means of transport, packing and insurance.

Modern means of transport carry goods too far-of places quickly and safely. Packing of goods helps to preserve their quality in transit and storage. With the help of packing, businessman can preserve the quality of goods. Thus, transportation and packing are useful commercial activities.

3. Hindrance of time:

In modern industry goods are produced on a large-scale in anticipa­tion of demand. There is usually a time gap between the production and consumption of goods. Therefore, it becomes necessary to store the goods until they are sold.

This problem is solved by warehousing or storage. Warehouses provide suitable storage facilities to protect the goods from fire, rain, pests, etc. Warehousing is, thus, an integral part of commerce.

Profit is the lifeblood of business, without which no business can survive in a competitive market. In fact profit making is the primary objective for which a business unit is brought into existence. Profits must be earned to ensure the survival of business, its growth and expansion over time. No business can earn profits without satisfying customers and other sections of society similarly, business cannot render service without earning profits. Thus, the real objective of business is to earn profit by serving the interests of consumers, employees, investors, Government and the society as a whole.

'Creative Strokes' is an advertisement agency initiated by Rohit, Shagun, and Pratima. They have called a meeting to discuss the below given points: (i) Increase the profit margin by 10% in May.

The environment is the sum total of all the surroundings both natural and man-made. The quality of the environment is fast deteriorating because of the business activities. The smoke, effluents and other wastes released from the indus¬tries pollute the environment and hence affect the health of the people. Therefore, it is essential that we should protect our environment.Role of business in environmental protection :

1. Preventive role : It concentrates on preventing pollution from different activities. This includes :
   (i) Use of CNG vehicles.
   (ii) Recycling of industrial wastes
   (iii) Scientific treatment of emission before their release.
   (iv) Installation of pollution resistant machinery. V/i
2. Curative role : Steps must be taken to rectify the damage caused to the environment:
   (i) Promoting afforestation.
   (ii) Assisting government agencies and other
   NGO’s in cleaning polluted rivers and management of harmful substances.
3. Awareness role:
   (i) Promoting awareness about ecological balance.
   (ii) Creating awareness about various causes and
   effects of environmental pollution.

The various types of industries are as given below:

1. Primary industries : These include all those
   activities which are concerned with the extraction and production of natural resources.
2. Secondary industries : These are concerned with
   using the materials which have already been extracted at the primary stage.
3. Tertiary industries : These are concerned with providing support services to primary and secondary industries as well as activities relating to trade. These industries provide service facilities.

Accounting is the process of systematically recording, measuring and communicating information about financial transactions. The three major financial statements produced by accounting are the profit and loss statement, the balance sheet and the cash flow statement. It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the.

A trademark protects a slogan, phrase, word, company name, logo, or design that identifies a company and/or its goods. A logo is a symbol or design used by a company that may fall under trademark protection laws. Many businesses choose to apply for trademark protection on their logos. Slogans, symbols, or inventive catchphrases are common examples of trademarks. Companies legally register their trademarks with the appropriate authorities in order to prevent competing companies from copying (called infringing upon) their trademark or trademarks (explicitly designated by the superscripted "TM").

Economic activities are of three types:- 1) business 2)employment 3) profession

Fci os a public corporation

A company whose shares are publicly traded and are usually held by a large number (hundreds or thousands) of shareholders. The usual British term is a public limited company. A government-owned company such as an airline or public transit company. See also corporation sole. 

examples - LIC, Food Corporation of India (FCI)

Multinational corporation ( MNC ) is an organisation who have branches in many different countries but managed wholly from one country i.e. home country. Hence, centralised control in MNC's implies control exercised by the headquarters.

Business is an institution organised and operate to provide goods and services to society under the incentive of private gain.

The term of bussiness is derived from the word 'busy '. Thus,business means being busy. However in a specific sence ,business refers to an occupation in which people regularly engaged in activities related to purchase,production and or sale of goods or services with a view to earn profit

Profit may be regarded as an essential objective of business for various reasons (a)It is a source of income for business persons. (b) It can be a source of finance for meeting expansion requirements of business. (c) It indicates the efficient working of business. 

An aim is where the business wants to go in the future, its goals. It is a statement of purpose, e.g. we want to grow the business into Europe. Business objectives are the stated, measurable targets of how to achieve business aims. For instance, we want to achieve sales of €10 million in European markets in 2004.

Business activities are classified into name them

This is only a one time activity as rajnish is selling things due to shifting, he isn't doing business of selling furniture and sofa on olx.

Redeemable can be used for things which are recoverable like loan can be recoverable after some fixed time with interest.

To store goods for future use in emergency

Warehousing : It refers to preserving a quantity of goods for use when required.

Functions of warehousing are as follows :
1. Consolidation : In this function the warehouse receives and consolidates, materials/ goods from different production plants and ispatches the same to particular customer on a single transportation shipment.
2. Break-Bulk : This functions refers to the shipment of bulk quantity of goods from the production plants to the distribution warehouse and then reshipment in small quantities to different customers.
3. Stock Piling : The next function of warehouse is the seasonal storage of goods to select business for eg. Agriculture products are harvested at specific times with subsequent consumption throughout the year.

C2c

Nice explanation

Continuous increase in the profits of any enterprise
is possible only by performing useful services to the society. Infact, objectives are needed in every area that influences the survival and prosperity of busi¬ness. Since a business has to balance a number of needs and goals, it requires multiple objectives.
The five multiple objectives of business are as follows:

1. Market standing : Market standing refers to the position of an enterprise in relation to its competitors. A business enterprise must aim at stronger market standing in terms of offering competitive products to its customers and serving them to their satisfaction.
2. Innovation : Innovation is the introduction of new ideas or methods in the way something is done or made. There are two kinds of innovation in every business, i.e.,
   (i) innovation in product or service.
   (ii) innovation in the various skills and activities needed to supply them.
3. Productivity : Productivity is calculated by comparing the value of outputs with the value of inputs. It is used as a measure of efficiency.
4. Physical and financial resources : Any business requires physical resources like plants, machines, offices, etc., and financial resources i.e. funds to be able to produce and supply goods and services to its
   customers.
5. Earning profits : One of the main objectives of business is to earn profits on the capital employed.
   Profitability refers to profit in relation to capital investment. Every business must earn a reasonable profit which is crucial for its survival and growth