What is the mean by business ?

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Ans :-  Meaning of business:-   Any activity taken up with the motive of earning profit is known as business . business represents an organized effort by an individual or individuals engaged in making a living its therefore involes all activites production amd purchase of good, rendring of service, with the objective of making a project by custumer satisfaction .
Business may be defined as the organized production or sale of goods undertaking of the object of earning profit through the satisfaction of human wants.
A business may be carried on by a single person or a group of person. Every business organization aims at earning & maximzing its profits . A business may be classified into verious catrgories ie;- role proprietorship business , partnership business , joint business , hindu undividend family (HUF) business etc. The business exists to make a profit and will continue to exist as long as the business is fetching profit But will have to close down as it start as suffering losses and continues the same pattern for a long period of time.
Definition of business:-    
According to wheeler :-   Business is an instition organized and operated to provide goods and services to the members of the society under the incentive of private gains.
According to L. H. haney :- Bussiness may be defined as a human activity directed towards production or acquisition of wealth through buying and selling of goods.
According to M.C. Naughton :-  The term business means exchange of goods money service for mutual benefits .
Any business involes people and resources to do one of two things . they are :-
·         To make (produce) items or goods to be sold example:- shirt factory, shoe factory, furniture maker, boat builder & doing farming
·         To provide service to be sold example :- banks, building, socities, dentists, police, hospitals and insurance companies
Characteristics of business
·        Profit seeking activity
·        Providing goods and service to society
·        Participant in society
·        Flow of income

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