What is business activity?
Business is the process of satisfying customers’ needs and also aiming to make a profit.
The businessperson provides the money to employ the 3 factors of production (land, labor, capital). The businessperson is considered to be the 4th factor of production because he/she takes the risk.
Businesses produce the products and services which are demanded by the customers. There is a high risk involved in business activities.
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