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Nature and Purpose of Business-Characteristics

“Business may be defined as human activity directed towards producing or acquiring wealth through the buying and selling of goods” L.H. Haney CHARACTERISTICS OF BUSINESS 1. An Economic Activity 2. Production and procurement of goods and services. 3. Sale or exchange of good and service. 4. Dealing in goods and service on a regular basis. 5. Profit motive 6. Element of risk. Taylor's Scientific Principles:-    • BUSINESS STUDIES---TAYLOR'S PRINCIPLE...   Functional Foremanship :-    • BUSINESS STUDIES- Taylor's Scientific...