Business Trade And Commerce Flashcards
What is the meaning of business
The literal meaning of business is an economic activity
Pataliputra
Export of stones
Peshawar
Export of wool and import of horses
Taxila
Centre for learning
Indrapastha
Commercial route on Royal road
Mathura
Emporium of trade, people have subsisted on commerce
Varanasi
Centre for textile industry
Mithila
Traded at the ports on the island of Java, Sumatra, Borneo
Ujjain
Agate, muslin, carnelian, cloth trading
Surat
Textile trading mainly for their gold border(zari)
Kanchi
Pearl, glass, rare stones
Madura
Pearl fishes
Broaach
Linked to all marts
Kaveripatti
Trade of perfumes, cosmetics, scent, silk, wool etc..,.
Tamralipati
Greatest port connected by both sea and land
What are the types of business Activities?
- Economic
2. Non economic
Definition of Business
Business refers to occupation in which people engage in activities of purchase, production or sale of goods and services with a view to earn profit
Definition of profession
Profession refers to a paid occupation, especially one that involves prolonged training and a formal qualification
Definition of employment
Employment refers to the condition of having paid work
What are the characteristics of business
- Earning profits
- Production of purchase of goods for sale
- Sale or exchange of goods and services
- Regular basis
- Uncertainty of return
- Business risk
Classification of business activities
- Business
- Industry
- Commerce
Definition of Industry
An industry is a group of manufacturers or businesses that produce a particular kind of goods and services
Definition of commerce
Commerce is the fundamental action that takes place in every transaction involving money or trade
