054 Lecture 1: UNIT 1 – FORMS OF BUSINESS ORGANISATION
3 Jan 2022
Department
Course
Professor
Document Summary
Business it is an economic activity which involves regular production and or exchange of goods and services with the main purpose of earning profit through the satisfaction of human wants. Familiar meaning of business business involves production and exchange of goods its main aim is to earn profit it must satisfy human needs. These activities are organized and performed under the framework of an institution known as business organization firm or enterprise. According to b. o wheeler business is an institution organize an operator to provide goods and services to society under the incentive of private gain. Business provides all human activities directed towards earning profit or economic gains. Business is classified into two industry and commerce. Commerce example trade banking transport insurance warehousing advertising etc. are internal parts of modern business. Types of economic activity economic activities are classified into three business profession employment. Business - trade industry banking transportation insurance warehousing advertising etc.
