Business is regular and lawful effort on the part of owners and managers to make or but and sell goods, services and idea of prince. The people need good and services and for satisfaction of their wants. The businessman are busy in production, purchases and sale of such goods and services. The exchange of goods and services is made under the law of the land. The exchange provides benefit to both buyers and sellers. The sellers receive money and buyers get goods. The goods may be durable or consumable. In the same way dry cleaners , hair dressers and transporters sell their services. The idea are purchase and sold in the market. Business can be divide into three parts. The first part is called an industry where goods are made. The second part is know as commerce. It includes trade and commercial activities relating to trade. The third part is considered as direct services. In this group various administrative, protective, Professional and Leisure services are sold. Every action of businessman ends with profit and loss.
Definition
According H. G. Hicks says that business is gainful procedure through which individuals and groups services among themselves.
