ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations. Business types range from limited liability companies to sole proprietorships, corporations, and partnerships.

Detailed explanation-2: -Answer: Business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities.

Detailed explanation-3: -A business is defined as an organisation or entity involved in commercial, industrial, or professional activities providing goods or services to the public.

Detailed explanation-4: -There are three common types of businesses-sole proprietorship, partnership, and corporation-and each comes with its own set of advantages and disadvantages. Here’s a rundown of what you need to know about each one. In a sole proprietorship, you’re the sole owner of the business.

Detailed explanation-5: -Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy the needs of customers. Businesses can be both profit or non-profit organizations that function to gain profits or achieve a social cause respectively.