Introduction to Business Organization

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Questions and Answers

What is the main purpose of business according to the given text?

The main purpose of business is to earn profits through the satisfaction of human wants.

What are the motives of business as mentioned in the text?

The motives of business include earning profits, gaining market share, providing service, and survival.

What is the definition of a business organization?

A business organization is an establishment formed to carry on commercial enterprise.

What are the components included in the term 'business'?

The term 'business' includes trade, commerce, and industry. Signup and view all the answers

What is the nature of business according to the given text?

The nature of business involves dealing in goods and services for value, providing goods and services to society. Signup and view all the answers

What is the main purpose of business according to the given text?

The main purpose of business, according to the given text, is to earn profits through the satisfaction of human wants by regularly producing and exchanging goods and services. Signup and view all the answers

What are the components included in the term 'business'?

The term 'business' includes trade, commerce, and industry. Industry involves the extraction and production of goods, trade refers to buying and selling of goods, and commerce provides facilities such as storing, grading, financing, transporting, and insuring to support trade. Signup and view all the answers

What is the nature of business according to the given text?

According to the given text, the nature of business involves dealing in goods and services for value, providing goods and services to society for consumption or production, and engaging in economic activity with the primary aim of earning profits. Signup and view all the answers

What are the motives of business as mentioned in the text?

The motives of business, as mentioned in the text, include the ambition to earn profits, capture market share, provide service, and ensure survival in the competitive business environment. Signup and view all the answers

What is the definition of a business organization?

A business organization is an establishment formed to carry on commercial enterprise, involving the regular production and exchange of goods and services with the main purpose of earning profits through the satisfaction of human wants. Signup and view all the answers