What does the word business means?

What does the word business means?

Business activities

Business activities refer to those activities which are connected with the production or purchase and sale of goods or services with to object of earning profits. The persons who are engaged in business are called businessmen or entrepreneurs. Similarly an organization for the purpose of business activities is called a business enterprise or business organization.

INTODUCTION

WORD "BUSINESS"

Literally the world business means busyness or the state being busy

Simple meaning

1.”Business include all those legal activities, which are related with earning profits”

2.”Business include all those economic activities, which are related with earning wealth”

Definitions

1.”every human activities which is engaged in, for the sake of earning profit are called business” (james Stephenson)

Criticism

According to this definition, illegal activities are considered as business like theft and smuggling.

2.”human activities directed towards production or acquiring wealth through buying and selling of goods”(l.h Haney)

3.”business is legal activities that satisfy the human need and want by providing goods and services for private profit” (Bittel)

Business activities can be of various kinds. These may be fishing, mining, agriculture cultivation, banking or industry; whether they may be conducted by a limited company or by a Patnership firm or by one man. Whether the business is done on whole sale or retail level. In short every human activity made to earn income or profit is known as a business if the goods are produced to fulfill personal needs only, this activity cannot be called business. Earning of profit is special mark of business. As compared with commerce and industry the word business is in the wider sense. It also includes all those factors helps the man to earn profit by satisfying material, spiritual and mutual needs.

Final result

Legal human activities

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Conducted for

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Earning profit

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Called

BUSINESS