Business denotes the ' State of being busy".
All the activities to be performed to earn money by supplying the goods or service come under business activities.Economics activities performed for earning profits are termed as a business.
According to Prof. LR. Dicksee, " Business is n a form of activity pursued primarily with the object of earning a profit for the benefit on that behalf the activity is conducted."
From the above definition, It is concluded that business refers to an institution which involves the production and exchange of goods or service for the profit.
Features of Business
There is a dealing of goods or service for money in a business.
The main objective of a business is to generate profit by producing and selling the goods or services.
Business involves the acts of either producing goods or services or buying and selling them.
Business is a regular activity.
In business, there are many risks and uncertainties to be beared by a businessman.
Important of business
It is the main source of economic development and growth of a country.
It is the main source of providing employment to the public.
The tax and the other change paid by the business directly or indirectly are main sources of the government revenue.
Goods and services can be exported to the foreign countries through business.
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