only buying and selling of goods and services for profit motive is businees.do you agree with the statement
Dear Student
No, business is not only buying and selling of goods and services for profit. Although the primary objective of business is to earn money and acquire wealth. Profits are essential for growth and expansion of business. Without the motive of earning profits business cannot survive for long.
Business has some social objectives as well. It is in the interest of the business to pursue certain objectives which are expected by society. Some social objectives of business are:
1. Quality goods and services at fair prices.
2. Generation of Employment
3. Avoidance of Anti-Social Practices
4. Employee Welfare
Regards
No, business is not only buying and selling of goods and services for profit. Although the primary objective of business is to earn money and acquire wealth. Profits are essential for growth and expansion of business. Without the motive of earning profits business cannot survive for long.
Business has some social objectives as well. It is in the interest of the business to pursue certain objectives which are expected by society. Some social objectives of business are:
1. Quality goods and services at fair prices.
2. Generation of Employment
3. Avoidance of Anti-Social Practices
4. Employee Welfare
Regards