12 Questions
What is the literal meaning of the word 'business'?
A state of being busy
Which of the following is NOT a characteristic of a good business?
Personal consumption
What is the primary purpose of a business, according to James Stephenson?
To earn profit
What is the role of capital in a business?
The lifeblood of every business
What is the term used to describe the characteristic of a commodity that can satisfy a human need?
Utility
What is the incentive behind a business, according to B.W.Wheeler?
Private gain
What is the primary motive of a business?
To earn a profit
What is the characteristic of business in terms of transactions?
It involves a series of regular transactions
What is the term used to describe income earned from business in Islamic perspective?
Rizq-e-Halal
What is the purpose of an organization in a business?
To facilitate smooth running of business
What is the term used to describe the exchange of goods and services in business?
Sale or Transfer for value
What is the impact of business on society?
It benefits both the producer and the consumer
Learn about the concept of business, its definition, and what it entails. Discover the different aspects of business and how it is related to earning money.
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