Unit-1 Nature of Business

Introductory unit for the preparatory course in Commerce.

What is business? 

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Learning Pundits Content Team

Written on Apr 17, 2019 2:01:17 PM

Any activity carried with profit motive is business. It may be a soap manufacturer or an aircraft manufacturer or a provision store or a pan shop or a cloth shop or a medical store or a hotel. They are all engaged in a business activity. In other words, the term business can be defined as production of good and services and all those activities that are involved inflow of good from the point of production to the point of consumption or final use with a view to earn profit.