Chapter 1. Nature and Purpose of Business In every society people undertake various activities to satisfy their needs. Activities: I ) Economic II ) Non-Economic Q. What is economic activities? Ans. Economic activities are those activity by which we can earn our livelihood. Ex:- Teacher teaching in school. Q. What are non-economic activity? Ans. Those activities which are performed out of love, sympathy, sentiments, patriotism,etc. Ex:- Teacher teaching his kid, Charity to poor people. Q. What are the characteristic of Business? Ans.1) An economic activity: Business is considered to be an economic activity because it is undertaken with the object of earning money or livelihood. 2) Production or procurement of goods and services: This goods must be either produced or procured by business enterprises. 3) Sale or exchange of g...
Comments
Post a Comment