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Nature And Purpose Of Business

Question

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England imports goods from South Africa to export them in other European countries. What name is given to this type of trade?

Solution

Entrepot

Some More Questions From Nature and Purpose of Business Chapter

Name the functions of business.

How is business an economic activity?

Explain how industry, trade and commerce are related.

What is the role of profit in business?

How auxiliaries to trade help in removing hindrance?

What is business risk. What is its nature?

How would you classify business activities?

What are various types of industries?

Explain any two business activities which are auxiliaries to trade.

State the different types of economic activities.

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