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  • 1. Made By Vicky Sharma
  • 2. Business refers to an economicactivity in which people regularlyengage in purchase productionand sale of goods and services,on a regular basis with the viewof earning profit by satisfying
  • 3.  An Economic Activity – Business is considered to be an economic activity because it is undertaken with the object of earning money or livelihood Regular Basis – Business involves dealings in goods or services on a regular basis. One single transaction of sale & purchase, therefore does not constitute business. Earning Profit – One of the main
  • 4.  Th isis the first stage of the production process.Raw materials are farmed or extracted from the land or sea People who work in the primary JOBS sector are : Mining • Farmers growing crops or rearing Farming livestock Fishing • Miners extracting such things as coal, gold
  • 5.  ExtractiveIndustry – These industries extract or draw out product from natural resources. Product of these industries are usually transformed into many other useful goods by manufacturing industries. For e.g. – Mining, Hunting , Lumbering Genetic Industry – These Industries remain engaged in breeding plants and animals for their use in further reproduction. For e.g. – Poultry Farming, Breeding Farms e.t.c
  • 6. JOBSThese are concerned with providing Retail support Wholesaleservices to Primary & Secondary. Banking Examples are- &Insurance SolicitorsTransport Tourism &Banking LeisureInsurance Driving InstructorsWarehousing HairdresserCommunication
  • 7. AuxiliariesTrade to Trade
  • 8. Trade is an essential part ofcommerce. It refers to saletransfer of exchange of goods.It helps in making the goodsproduced available to ultimateconsumers and users.
  • 9. Trade may be classified into two broad categories-Internal TradeExternal Trade
  • 10. Internal TradeThis is divided into two categories:Wholesale : when goods are purchased and sold in bulk , it is known as wholesale trade.Retail : when goods are purchased and sold in comparatively smaller quantities , for final consumption it
  • 11. External or foreign trade consist of the exchange of goods and services between person or organisations operating in two or more countries. It is divided into three parts-
  • 12. Import : If goods are purchased from another country, it is called import trade.Export Trade : If goods are sold to other countries it is known as export trade.Entrepot Trade : when goods are imported for export to other countries, it is known as entrepot trade.
  • 13. These activities help in removing various hindrances which arise in connection with the production and distribution of goods.Parts of Auxiliaries Trade-Transportation & CommunicationBanking & FinanceInsuranceWarehousingAdvertising
  • 14. Objective of business can be classified into three major categories :Organisational ObjectiveSocial ObjectivesPersonal Objectives
  • 15. Organisational or economic ObjectivesSurvival : It is the basic objective of any6 business. Management must ensure the survival of the organisation .In order to survive, an organisation must earn enough revenues to cover costs.Profit : Only survival is not sufficient for the business. Management has to ensure that the organisation makes a profit which is very important for the success of business.
  • 16.  Social ObjectivesSocial objectives involve the creation of benefits for the society. Management of an organisation must consistently crate economic value for the society. This included:o Supply of quality product at reasonable prices.o Using Friendly methods of productions.o Generating employment opportunities to
  • 17. Personal ObjectivesPersonal objectives are related to the employees of the organisation. Management should satisfy their diverse needs such as-Financial needsSocial needsHigher level needs(Personal growth and development)
  • 18. made byVicky Sharm