6 Questions
What is the primary focus of the concept of business?
Economic activities for profit
Which of the following is a key feature of business activities?
Risk and uncertainty
Why is the classification of business activities important?
To simplify decision-making processes
What is the key difference between industry and commerce?
Industry involves production of goods, while commerce involves buying and selling of goods.
What distinguishes modern businesses from traditional ones?
Modern businesses embrace innovation and technological advancements, while traditional businesses follow conventional practices.
What distinguishes a profession from a business?
Professions are not profit-oriented, unlike businesses.
Test your knowledge on the concept, meaning, features, stages of development, and importance of business. Explore the classification of business activities in this quiz.
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