The document discusses the key aspects of business. It defines business as a regular economic activity involving the purchase, production and sale of goods and services with the aim of earning a profit. It also outlines the three main stages of business - primary, secondary and tertiary. The primary sector involves extraction of raw materials from the land. The secondary sector transforms raw materials into finished goods through manufacturing. The tertiary sector provides support services to the primary and secondary sectors such as transportation, banking and insurance. The document also discusses internal and external trade, and the objectives of business from an organizational, social and personal perspective.

1. Made By Vicky Sharma

3. Business refers to an economic
activity in which people regularly
engage in purchase production
and sale of goods and services,
on a regular basis with the view
of earning profit by satisfying

4.  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

8.  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

9.  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

10. JOBS
These are concerned with providing Retail
support Wholesale
services to Primary & Secondary.
Banking
Examples are- &Insurance
Solicitors
Transport Tourism &
Banking Leisure
Insurance Driving
Instructors
Warehousing
Hairdresser
Communication

12. Auxiliaries
Trade to
Trade

13. Trade is an essential part of
commerce. It refers to sale
transfer of exchange of goods.
It helps in making the goods
produced available to ultimate
consumers and users.

14. Trade may be classified into
two broad categories-
Internal Trade
External Trade

15. 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

16. 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-

17. 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.

18. 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

19. Objective of business can be
classified into three major
categories :
Organisational Objective
Social Objectives
Personal Objectives

20. 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.

21.  Social Objectives
Social 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

22. 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)

23. made by
Vicky Sharm