Nature and Purpose of Business

///Nature and Purpose of Business
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16 02, 2016

Nature and Purpose of Business-Questions

Questions from Nature and Purpose of Business chapter may be from one mark to six marks.
16 02, 2016

Classification of Human Activities

Human activities can be economic or non-economic activities. Economic activities can be classified as business,profession and employment.
16 02, 2016

Business – Meaning and Features

Business includes economic activities concerned with production and exchange of goods and services to satisfy human wants with the main purpose to earn profit.
11 02, 2016

Components of Business

Business has two components:industry and commerce.
11 02, 2016

Industry – Meaning and Types

Industry refers to activities involved in conversion of raw material into useful products. It creates form utility to produce consumer goods for the direct consumption by the customers or capital goods used for the production of consumer goods.
11 02, 2016

Meaning and Functions of Commerce

Functions of Commerce include all the aids to trade, known as auxiliaries to trade, that help in removing various types of problems in the process of trade and thus, Commerce.
11 02, 2016

Objectives of Business

Business has three categories of objectives:economic,social and human objectives. These days, business has to concentrate on all objectives in order to survive in the market.
11 02, 2016

Meaning and Nature of Business Risk

No business, big or small ,can exist without any type of risk. There can be risk to people, property or business as a whole.
11 02, 2016

Role of Profit in Business

By earning profits business is able to build reputation in the market and attract new parties like employees, customers, investors etc.
11 02, 2016

Meaning and Features of Profession

The primary objective of every profession is to provide service though they may charge a fee. They should not exploit the people using their knowledge of expertise.
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