Understanding the Market — Entrepreneurship STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market1 Mark
Question
Define the term 'Business'.
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Answer
According to Peterson and Plowman: Business may be defined as an activity in which different persons exchange something of value, whether goods or services, for mutual gain or profit.
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