Saved Bookmarks
| 1. |
Why is Business considered as an economic activity?? (5 Marks) |
| Answer» An\xa0economic activity\xa0is a process that, based on inputs, leads to the manufacture of a good or the provision of a service.\xa0Business\xa0is\xa0considered\xa0to be an\xa0economic activity\xa0because it is undertaken with the aim of earning money or livelihood and not because of any sentimental reason like love, affection or sympathy.\xa0Business\xa0is considered an\xa0economic activity\xa0because it is concerned with production, purchase, sale or distribution of goods and Services with an aim of earning profit. | |