Students can go through AP Inter 1st Year Commerce Notes 2nd Lesson Business Activities will help students in revising the entire concepts quickly.
AP Inter 1st Year Commerce Notes 2nd Lesson Business Activities
→ All business activities are economic activities, a man is engaged in, to earn his livelihood by producing and distributing goods and rendering services.
→ Business may be defined as a human activity directed towards producting or acquiring wealth through buying and selling of goods.
→ Industry refers to production of consumer goods and capital goods, creates form utility.
→ Commerce is part of the business. It deals with buying and selling of goods and services. Commerce is concerned only with the exchange of goods. It includes all those activities which are related to the transfer of goods from production place to the consumption place.
→ Trade means purchase and sale of goods with profit motive. It involves exchange of goods and services between buyers and sellers.
→ Aids to trade include transport, communication, warehousing, banking, insurance, advertising.