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Understanding the Market — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market3 Marks
Question
Enlist any four characteristics of Business.
✓

Answer

Some fundamental characteristics of business can be noticed as:
  1. An economic activity i.e. the aim of this activity is to earn money.
  2. Dealing in either production, purchase, procurement of goods or renders service or both.
  3. All the activities performed under business aims at satisfying human needs and wants.
  4. To be called as business, an activity must be done on regular basis.
  5. Profit earning is the primary goal of an business.
  6. Risk, i.e., probability of incurring losses or earning inadequate profits, is inherent in all the businesses.

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