A business is an economic activity which deals with the exchange of goods and services on the worth of money value.
But there are some things that human needs to understand. Starting something is not goal of the business! A business is profitable product, a unique product that should be used by the most demanding product of human beings.
In order to get a product like this, we must first understand the marketing field or learn to think as we are.
CHARACTERISTICS OF BUSINESS:
- AN ECONOMIC ACTIVITY:
Business object for earning profit rather than affection or love.
- PRODUCTION:
Every business should either produce or acquire the goods in which it deal.
- SALES OR EXCHANGE GOODS AND SERVICES.
There should be sales or exchange of goods and services between the seller and buyer.
- DEALING IN GOODS AND SERVICES ON A REGULAR BASIS:
A single transaction cannot be treated as a business as there is no continuity.
- EARNING PROFIT:
The business activity must be intended to earn profit.
- UNCERTAINITY OF FUTURE:
Business can’t predict it future profit.
- ELEMENT OF RISK:
Every business is subject to risk due to various reason.
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