Content in Commerce
Unit-1: Course content in Commerce MEANING OF BUSINESS: Ø The term business is derived from the word ‘busy’. This business means being busy. Ø Business refers to economic activities concerned with the production and sale of goods or services for the purpose of earning profit. Ø Business refers to any economic activities undertaken with the object of earning profit. Ø It includes production, trading, transportations, banking, insurance, advertising, warehousing etc. DEFINITION: According to P.K. Gosh & Bhushan- “ Business may be defined as the regular production or purchase and sale of goods undertaken with the object of earning profits and acquiring wealth through satisfaction of human events”. R.N. Owens - “Business is an enterprise engaged in the production and distribution of goods for sale in a market or rendering of services for price. NATURE OF BUSINESS: The nature of busine...