CHARACTERISTICS AND OBJECTIVES OF BUSINESS




Definition of Business:- Business is a wide term. It is the composition of two words 'Busy + ness'. It means any activity in which we remain engaged to earn a profit on a regular basis. 

   
Characteristics/Nature of business:-
 
• Business is an economic activity which aim is to earn money.
• The main purpose of business is to earn profit and sharing it with their partners and owners.
• Every business is subjected to risk. It means the possibility of losses and if there is no risk then we can't say it business. 
• Exchange of goods and services must be on regular basis.
• Business involves the production of goods and services and creating customers.
   

Objectives Of Business:-

The business objectives may be classified broadly into three categories. These are:

 • Economic objectives
 • Social objectives
 • Human or Individual Objectives