GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Industry is a group of an individual or enterprising entity engaged in commercial, industrial, and professional activities.
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True
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False
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Either A or B
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None of the above
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Explanation:
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.
Detailed explanation-2: -A business organization is a commercial, industrial, or mercantile enterprise, and comprises the people who constitute it. Business is a legally-recognized organization which provides goods, services, or both to the consumers.
Detailed explanation-3: -Examples of industries include banks, asset management companies, insurance companies, and brokerages. Companies that fall into the same industry offer similar products or services and compete for customers who require them.
There is 1 question to complete.