Question

What is the core purpose of business as defined by Prof. Pride, Hughes, and Kapoor?

Options

• To provide free services to society.

• To organize efforts to produce and sell goods/services for profit that meet society's needs.

• To create maximum employment only.

• To eliminate all competition in the market.

Answer 1

To organize efforts to produce and sell goods/services for profit that meet society's needs.

Explanation:

This definition emphasizes that business combines organized effort with profit motive while fulfilling societal demands, which is the foundation of successful enterprises.