Business involves economic activities like buying and selling goods and services to generate profit. It provides employment and satisfies customer needs. While business aims to maximize profit through continuous and creative processes, it also takes risks and is regulated by the government to ensure responsible use of resources and protection of stakeholders. Customer satisfaction is key to surviving in competitive markets by updating business techniques and maintaining reasonable costs.

1. Characteristics of business

2. characters
• Economic Activity:
It offer employment opportunity to various sectors like insurance, transport, bank
ect.
It also provide required product and services to customer
• Buying and selling:
Business involve trading activity of buying and selling of goods and services.
• Continuous process:
Business is continuous activity.
• Profit motive:
All business main to earn maximum profit and success of the business depends on
profit
• Risk: Business activities are carried out on uncertain situation. Risk may or may not
be happen. Risk is classified into insurable and non insurable.
• Creative and dynamic: Each business will update regularly because business
carried out in competitive environment. To face competition and survive in the
economy it always find new techniques in production and distribution of goods.

3. • Customer satisfaction:
company product will satisfy the customer needs.
Unsatisfied customer aren’t prefer our product. So
customer required product will be available at
reasonable cost.
• Government control:
Government regulate the business to ensure safety and
security of customer, employee, creditor, investor and
environment.
• Optimum utilization of resources:
Scare resources are well utilized like electricity, fuel,
water, soil ect by the company.