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Nature And Purpose Of Business

Question

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Name type of the following activities:

(a) Teaching by a teacher in school.

(b) Teaching his son by a teacher.

Solution

(a) Economic activity.

(b) Non-economic activity.

Some More Questions From Nature and Purpose of Business Chapter

Define trade.

Define internal trade.

Define External Trade.

Define risk.

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?

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