characteristics of business
In this video, we will discuss the 7 characteristics of business as defined by NCERT Class 11 Business Studies.These characteristics are: Check out my first video on the basics of business before watching this video on the characteristics of business activities.https://youtu.be/0dQx5vxkjNo An Economic Activity: A business is an economic activity because it is undertaken with the objective of earning profit. This means that businesses must produce or sell goods and services in order to make money. Regularity in Dealing: Businesses must deal in goods and services on a regular basis. This means that they cannot just make a single transaction and then stop. They must have a continuous flow of goods and services in order to be successful. Profit Motive: Profit motive is an important distinguishing feature of business. Businesses must earn profit in order to survive, grow, and expand. Without profit, businesses would not be able to pay their employees, invest in new equipment, or develop new products. Element of Risk: Risk cannot be eliminated from business. Risk may be in the form of natural calamities, changes in consumer tastes, competition, fire, etc. Businesses must be prepared to deal with risk in order to be successful. and 3 more In this video, I will explain each of these 7 characteristics in detail and provide examples to help you understand them. I will also discuss the importance of these characteristics for businesses. I hope you enjoy this video and find it helpful! #Class11BusinessStudies #BusinessTradeAndCommerce #business-studies, #business-management, #entrepreneurship, #business-economics, #business-profit, #business-risk, #business-innovation, #business-social-responsibility, #business-scarcity-of-resources, #class-11-business-studies, #plus-one-business business,trade,commerce,features of business,plus one business studies,economic activity,buying and selling,continuous process,profit motive,risk and uncertainties,creative and dynamic,customer satisfaction,government control,production or trading of goods and services,sale or exchange of goods and services,regularity in dealings,profit earning,risk factor,uncertainty of returns,social responsibility,competition,entrepreneurship,customer focus
