A System is a set of interrelated subsets or elements to works in a totality. An economic system is the method society uses to allocate its resources (land labor, capital, and entrepreneurship) to satisfy needs. An economic system differs from another in respect of the control factory of production and the interaction of business, government […]
Introduction Business
Different Stages of Development of Modern Business
The modern form of business organization hand evolved through different stages from its inception to date, which may be discussed as follows. Self-Economy (family) As discussed earlier the first business transaction occurred with the inception of Barter System Before that the members of a family used to produce all goods and services, which they produced […]
Profit as the Objective of the Business – Ultimate Goal of Business
Profit as the Objective of the Business a common ingredient of business activity is profit. Profit is the difference between a business’s total revenues or sales receipts and the total of its production costs operating expenses and taxes. Profit is the ultimate goal of business. It is the measure success of the business and the […]
Importance Study Business | Objectives of Studying Business
Business is very important in our everyday life and also in every walk of life. Modern business involves almost total population of the globe, directly or indirectly. Business is a field of interest to the conscious. Peoples study business for much reason. Some persons are preparing to pursue earners in one of the major fields […]
History of Business Evolution over Time
Business of business may be traced with the dawn of human civilization in the form of ‘ Barter System’ Unlimited wants and limited resources and human efforts to balance these two are basic feature of human life. Economic activities are foundations of human life, existence and civilization. The history of business evolution may be divided […]
Evolution of Modern Business by Process
As a result of quest in the historical background of business. It is revealed that in the early age, man had no idea of business. Living completely alone and with no make contact with the external world, he would completely depend for this livelihood upon his own exertions. No doubt a man likes fabulous Sindabad […]