Is business an economic activity?

Yes. Business is a non-economic activity carried on by a few or more individuals to produce, sell goods and services that satisfy human needs and help in earning income.

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Yes. Business is an economic activity carried on by a few or more individuals to produce, buy, or sell goods and services that satisfy human needs and help in earning income.

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No. Business is an economic activity carried by only a few to produce or sell goods and services that satisfy human needs and help in earning income.

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No. Business is a non-economic activity carried by only a few to produce or sell goods and services that satisfy human needs and help in earning income.

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Solution

The correct option is B Yes. Business is an economic activity carried on by a few or more individuals to produce, buy, or sell goods and services that satisfy human needs and help in earning income.
Yes. Business is an economic activity carried on by a few or more individuals to produce, buy, or sell goods and services that satisfy human needs and help in earning income.

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Similar questions

Q. Why is Business considered as an Economic Activity?

Business is an economic activity. Do you agree ? Why ?

Q. Industry is an economic activity where as Commerce is a business activity.

Q. State whether the following statements are True or False:
(a) Taking photographs of mountains as a hobby is an economic activity.
(b) Teaching in a school is a non-economic activity.
(c) Service or employment is an economic activity.
(d) Business involves buying and selling of goods and services.
(e) Running a hair-cutting saloon is a business.
(f) Occupations of doctors, lawyers and chartered accountants are called professions.
(g) Economic activities are undertaken for earning a living

Q. Answer the following is Yes or No:
(a) A business activity can be carried out without sale or exchange.
(b) Business involves the creation of utilities.
(c) A business activity may be without a profit motive.
(d) Risk is an essential element of every business activity.
(e) Earning profit is the sole objective of business.
(f) Business is an economic activity.
(g) Profession involves greater risk than business.

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