BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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economics
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product
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market
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service
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Detailed explanation-1: -Anywhere a business exchange takes place. Market.
Detailed explanation-2: -A market is any place where makers, distributors or retailers sell, and consumers buy. Examples include shops, high streets, or websites. The term may also refer to the whole group of buyers for a good or service. Businesses that operate in markets are usually in competition with other companies.
Detailed explanation-3: -Income–Money earned in exchange for work, or received from investments, allowance, or gifts. Investing– The process of setting money aside to increase wealth over time and accumulate funds for long-term financial goals such as retirement. Liabilities–Money owed to individuals, businesses, or institutions.
Detailed explanation-4: -However, business is the term for all the activities involved in developing and exchanging products. A product is anything that can be bought or sold. Products are commonly known as goods and services.