Business

Question

What are the definition and purpose of a business? A business provides goods or services in exchange for . The goal of a business, if it wants to survive over time, is to .

1 Answer

  • Business provides goods or services in exchange for payment. The goal of a business, if it wants to survive over time, is to make profit

    What is a business?

    This refers to any activity carried out by an individual or an organisation with an aim of making profit.

    Some of the reason that business serves includes:

    • Earning of profit
    • Raises the standard of living
    • Creates employment
    • Earns revenue for a country etc.

    Therefore, the word "payment" and "make profit" is correct.

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