H ence, if the business owners want to formulate and establish valid decision rules for thei r bus iness, they must Activities related to production & processing as well as activities related to rearing & reproduction of animals or other living species are all included in the industry. What is business, what is the nature of business & what are characteristics of business? Find an answer to your question explain nature of business as an economic activity 1. The basic activity of any business is trading.
- A decision-making organization involved in the process of using inputs to produce good and/or provide services. Section 1.1 The Nature of Business Activity Unit 1. It is a business term, used in business. Nature of work means, what work is to be done in the business. It provides... 2. Good… Nature of business will be influ enced by the business environment. Ask your question. Join now. Entrepreneurship is an innovative activity, through which creative ideas may be … 1- Explain the terms internal environment and external environment 2- Assess the view that “government intervention in a market economy is necessary to improve the environments in which businesses operate” The learning outcomes for this assignment are: Examine the nature of economic activity in the business market Understand the economic environment of business Evaluate the […] Business denotes busi-ness, that is the state of being busy – any activity in which one keeps himself busy. A business is an organization that strives for a profit by providing goods and services desired by its customers. ; Increase added value: Value added is the difference between the price and material costs of a product. Normally a business will try to obtain a satisfactory level of profits so they do not have to work long hours or pay too much tax. Log in. 1.