Human activity: Business is a human activity. No business can be performed without human efforts. The stakeholders of business such as owners, customers, workers, managers, distributors,etc.
Economic activity:Business is an economic activity undertaken by an individual or a group of individuals to serve the interest of the owners and the society. It is concerned with earnings profits and generating wealth, which are measured in terms of money.
Enterprise:The Owner or the entrepreneur generates the idea of business, then starts and operates the business activities. The never produces bears the risk of business. therefore, a business is an enterprise of a person who generates idea, bears risks,produces new products or services and sells them to the consumers.
Production of goods and services:business is concern with the production and sales of goods and services to the society.It never services goods and services for self-consumption.the goods and services are sold for a price.
Consumer satisfaction:
The main purpose of business is to earn profit through creation of customers i.e by providing appropriate service to the costumers.the consumers purchase goods and services for their satisfaction.the more they are satisfied with the good and service,the more they consumes them.
Continuity in dealing:Business must be regular and continuous in its dealings.It must regularly produce and sell goods and services to consumers. one time one time dealing cannot be business.
Profit motive:profit motive is the very common and important feature of business.in simple word,risk is a possibility that loss may occur.the risk of loss always arise from the uncertainty of future.
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