GK
CO OPERATION CO OPERATIVE SOCIETIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In ____ form of business organization profit earning is the fundamental motive.
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trade unionism
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co-operation
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capitalism
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socialism
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Explanation:
Detailed explanation-1: -Under capitalism, the majority of the means of production are privately owned, production is controlled and income is distributed primarily through the operation of markets. The desire to turn a profit is capitalism’s fundamental characteristic.
Detailed explanation-2: -The profit motive refers to what is generally taken to be the underlying motivation of business and commercial activity: to collect revenues in excess of costs or, more simply, to make money.
Detailed explanation-3: -False. Profit is not the only motive behind a business activity. Productivity is an important objective of business.
There is 1 question to complete.