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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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