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Question
Why business is considered as an economic activity?
Why business is considered as an economic activity?
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Solution
Business is an economic activity relating to the production and sale of goods and services undertaken with a motive of earning profit by satisfying human needs in society. The primary aim of any business is to earn money or livelihood unlike for any other sentimental reasons like love, affection or sympathy.
Business is an economic activity relating to the production and sale of goods and services undertaken with a motive of earning profit by satisfying human needs in society. The primary aim of any business is to earn money or livelihood unlike for any other sentimental reasons like love, affection or sympathy.
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