Welcome Back to our new series of business learning.
In this article we will understand Business and Businessmen or women.
Business is an economic activity, which is related to continuous production and distribution of goods and services to satisfy human desires.
Business is an organization or financial system where goods and services are exchanged for one another or for money.
We all need food, clothing and shelter. We also have other domestic requirements to be satisfied in our daily lives and we meet these requirements from the shopkeeper.
Humans are constantly engaged in some activities or other in order to fulfill their unlimited desires, every day we come directly or indirectly on the word ‘business’ or ‘business’. Business has become an essential part of the modern world.
Modern business service oriented. Modern businessmen are conscious of their social responsibility. Today’s business is service oriented rather than profit-oriented.
Key Business Features:
- Exchange of goods and services
- The profit is the main objective
- Business is subject to risks and uncertainties
- There are at least two parties in each business transaction, one buyer and another vendor
- Business activity may be related to the production of goods or services.