Explain the characteristics of business.

5

(a)

Compare business with profession and employment.

5

(a)

Explain with examples the various types of industries.

5

(a)

Describe the activities relating to commerce.

5

(a)

Why does business need multiple objectives? Explain any five such objectives.

5

(a)

Explain the concept of business risk and its causes.

5

(a)

What factors are important to be considered while starting a business? Explain.

5

(a)

"No business is risk free." Do you agree? Justify your answer, mentioning the nature and causes of business risk.

5

(a)

"Earning of profits is the main objective of a business and other objectives are there to aid it only." Do you agree? Justify your answer.

5

(a)

"Risk is the element which makes the business different from other economic activities." Do you agree? Justify your answer.

5

(a)