'Onlysale or exchange of goods and services for profit is business'. Do you agree with this statement? Give three reasons to support your answer.
Dear Student,
No, we do not agree with the given statement. Sale or exchange of goods and services for profit is an important aspect of business and without any sale or exchange of goods or services it will not be called a business activity. But it is not the only purpose or feature of business. Business also involves the following activities There are various other features of business as well like :
https://www.meritnation.com/cbse/class11-commerce/revision-notes/business-studies/business-studies/nature-and-purpose-of-business/1161_5364
Keep posting!!
No, we do not agree with the given statement. Sale or exchange of goods and services for profit is an important aspect of business and without any sale or exchange of goods or services it will not be called a business activity. But it is not the only purpose or feature of business. Business also involves the following activities There are various other features of business as well like :
- Business is an economic activity
- Profit motive
- Business risk
https://www.meritnation.com/cbse/class11-commerce/revision-notes/business-studies/business-studies/nature-and-purpose-of-business/1161_5364
Keep posting!!