Question 5 of 17beginner🧠 RememberVery Short1 mark
State the meaning of business.
Correct Answer
Business refers to an occupation in which people regularly engage in activities related to purchase, production and/or sale of goods and services with a view to earning profits.
Exercise: EXERCISES - Short Answer Questions | Q: 4 | (Page 23)
For More Understanding
Explanation
This definition is explicitly stated in Section 1.2 'Concept of Business' of the provided text. It captures the essence of business as an economic activity involving regular dealings in goods and services with the primary objective of earning profit.