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Explain the characteristics of business....

Explain the characteristics of business.

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Some of the characteristics of business activities are as follows:
i) economic activity - business activities come under the category of economic activities as these are performed with the motive of earning the profit.
ii) regularity of dealings in good and services - business involves regularity of dealings in goods and services. for example, if I sell my watch at a profit, it will not constitute business but if I am a regular dealer of watches then this will be a business activity.
iii) profit motive as well as service motive - business should also have service motive with the profit motive. iv) element of risk - every business involves the element of risk.
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After comleting their graduation, Salman and Ram decided to set up a flour mill to earn income. Their main job is to purchase wheat from he market and have ground it into flour. Their flour is available in the packets of 5 kg, 10 kg and 20 kg . They sell these under the brand name 'Desh ka Atta', and earn a reasonable profit of 10% on cost. They worked very hard to flourish the business on a regular basis, and hence in no time their brand became very popular in the market . The main reasons for the success of their business are superior quality and low price. Their business was running very well. But one day, the flour mill caught fire, and as a result they had to suffer a heavy loss. However, Salman and Ram did not lose their heart, and worked even harder. Gradually, their business was back to normal. Now, they are fully satisfied with their business. Quoting the lines from the above para, explain any four characteristics of business.

After completing their graduation , salman and Ram decided to set up a flour mill to earn income. Their main job is to purchase wheat from the market and have ground it into flour . Their flour is available in the packets of 5 kg , 10 kg and 20 kg . they sell these under the brand name ' Desh ka Atta and earn a reasonable profit of 10% on cost . they worked very hard to flourish the business on a regular basis , and hence in no time their brand became very popular in the market . the main reasons for the success of thier business are superior quality and low price . Their business was running very well . But one day , the flour mill caught fire , and as a result they had to suffer a heavy loss . however , Salman and Ram did not lose their heart , and worked even harder . Gradually , their business was back to normal . Now , they are fully satisfeid with their business. Quoting the lines from the above para , explain any four characteristics of business.

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