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Nature And Purpose Of Business

Question

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Name that form of secondary industry in which the raw material is processed through various stages of production and then finished goods are manufactured. Give name of such two industries.

Solution

Processing industry.

Two examples:

1. Textile industry,

2. Sugar industry.

Some More Questions From Nature and Purpose of Business Chapter

Define the term 'industry'.

Define 'Commerce'.

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?

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