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Nature And Purpose Of Business

Question

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Which of the broad categories of industries covers Oil refinery and sugar mills ?
Primary
Secondary
Tertiary
None of above

Solution

B.

Secondary

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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