UNIT 1

  UNIT 1 Characteristics of Business Organization Economic activity: Business is the production and distribution of goods and services for profit. It offers employment opportunities in a variety of areas, including banking, insurance, transportation, businesses, and commerce. It is an economic activity focused on producing utilities to satiate human needs. It offers the society a … Read more

UNIT 1 Meaning, Definition of Business Organization Scope of Business The term “business” has a broader definition than “trade” and “commerce.” Trade and commerce are frequently used interchangeably. One of the subsets of commerce is trade. The exchange of commodities and services is a concern. It carries out the middleman role and moves commodities from … Read more