CameraIcon

CameraIcon

SearchIcon

MyQuestionIcon

MyQuestionIcon

Bank Rate and Repo Rate

Business invo...

Question

Business involves "only sale and exchange of goods for profit". Do you agree with this?

Open in App

Solution

No, business does not involve only sale and exchange of goods and services for profit. The sale, purchase or exchange must be on regular basis. Business should have a continuity in the process. If a person sells his old computer at profit, it does not constitute business.

Suggest Corrections

thumbs-up

0

mid-banner-image

mid-banner-image

Similar questions

Q. "Profit is not an objective but are requirement of business." Do you agree with this statement? Support your answer with reasons.

Q. "Earning of profit cannot be the objective of business any mow than the eating is the objective of living." Do you agree with this statement? Give reasons to support your answer.

'Ploughing back of profits' holds the key to success of business enterprises. Do you agree? Give three reasons.

Q. Long Answer Question:
"Money is the only motivator." Do you agree with this statement?

Q. Answer the following is Yes or No:
(a) A business activity can be carried out without sale or exchange.
(b) Business involves the creation of utilities.
(c) A business activity may be without a profit motive.
(d) Risk is an essential element of every business activity.
(e) Earning profit is the sole objective of business.
(f) Business is an economic activity.
(g) Profession involves greater risk than business.

View More

similar_icon

Related Videos

lock

Bank rate and repo rate

ECONOMICS

Watch in App

Explore more

Bank Rate and Repo Rate

Standard XII Economics