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Why do we considered business an economic activity? |
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Answer» The main purpose of business is to earn profit.Profit is the lifeline of business.Business carried on only those activities which involve earning profits.Profits is needed for business for its expansion,stability and dealing with future requirements.So it is considered an economic activity. Economic activity means the activity which is run regularly and has a motive to earn profit. Both the Characteristics are found in business that\'s why it is known as economic activity |
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