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Nature, Purpose and scope of Business — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMNature, Purpose and scope of Business1 Mark
Question
“Business is not possible with out exchange. “ Discuss the statement.
✓

Answer

Either by production of item and service or by purchasing against money, when it is sold it is called exchange of product or service. Business is related to or the exchange of product or service. If no exchange is there, no money is obtained.

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