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Why is business considered an economic activity? - Business Studies

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Why is business considered an economic activity?

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Solution

Business is primarily undertaken with an objective to earn money to finance one’s livelihood. It can be said that the sole motive with which a business is run is profit. That means, the decision to carry-out a business is not out of love or to perform charitable activities. Hence, business is considered an economic activity.

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NCERT Ncert Class 11 Business Studies
Chapter 1 Business, Trade and Commerce
Short Answer Questions | Q 7 | Page 26
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