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Nature And Purpose Of Business

Question

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Which is not the feature of business?
Exchange of goods and services for the satisfaction of human needs
Dealing in goods and services on regular basis
Risk and uncertainty
Working for others

Solution

D.

Working for others

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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