What is performing the work assigned to him by the employer under the agreement of service called?
Business
Profession
Employment
None of these
What collectively constitutes the market?
Owner
Employee
Society
Businessman
What refers to the economic activities which are connected with the production or purchase and sale of goods and services?
Distribution
Production
Unexpected situation beyond the control of businessman resulting in losses are known as:
Marketing
Risk
Competition
Net Loss
Activities which require special knowledge and skill to be applied by individuals in their occupation are known as:
Specialization
Business Activity
Name one of the basic functions of business which is a specialized activity that encompasses the entire business.
Innovation
What leads to technological upgradation of product process?
Occupation
Performance
Name one of the essential characteristics of business.
Sale or exchange of the goods and services.
Consideration
Hiring
Remuneration
Activities undertaken for deriving psychological satisfaction, as a social duty, or in discharge of a moral obligation are knows as:
Economic Activity.
Non-Economic Activity.
Business Activities.
Social responsibility
The backbone of modern business is:
Investment
Consumer's satisfaction
Employee's Welfare
Employees