Business

Any legal activity to earn profit is called business. A business is an organization which involved trade of goods or service or manufacturing to the final consumers.

For example: Sugar mills produce sugar for sale at profit.

Business is working situation in which individual or organization remain busy to earn profit by Trading Business (Sale of goods without manufacturing) Manufacturing Business (Sale of goods after manufacturing or change) Service Business (involved Consulting, mental or decision making)

Classes of Business

There are three types of business

(a) Trading Business 

(b) Manufacturing Business 

(c) Servicing Business

Basic forms of Business

(a) Sole proprietorship Business 

(b) Partnership Business  

(c) Corporation Business