{"id":7323,"date":"2023-06-15T16:52:14","date_gmt":"2023-06-15T16:52:14","guid":{"rendered":"https:\/\/commerceiets.com\/?p=7323"},"modified":"2023-06-15T16:52:16","modified_gmt":"2023-06-15T16:52:16","slug":"types-of-business","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/types-of-business\/","title":{"rendered":"10 DIFFERENT TYPES OF BUSINESS – NOTES"},"content":{"rendered":"\n

TYPES OF BUSINESS<\/strong><\/h2>\n\n\n\n

MEANING OF BUSINESS<\/strong><\/p>\n\n\n\n

Business can be defined as an economic activity under taken for the production of goods and services with the aim of satisfying the\u00a0human\u00a0wants.<\/p>\n\n\n\n

The etymology of “business” relates to the state of being busy either as an individual or society, as a whole, doing commercially viable and profitable work.<\/p>\n\n\n\n

According to Urwick and Hunt, <\/strong>“A business is any enterprise which makes, distributes or provides any article or service which other members of the community need and are able and willing to pay for.”<\/p>\n\n\n\n

According to Peterson and Plowman,<\/strong> “A single isolated transaction of sale and purchase will not constitute business. Recurring or repeated transactions of sale and purchase mean business.”<\/p>\n\n\n\n

According to Prof. Own<\/strong> “Business is an enterprise engaged in production and distribution of goods for sale in a market or rendering services for a price.”<\/p>\n\n\n\n

According to Dr. W.R. Spriegel,<\/strong> “All of the activities included in the production and sale of goods or services may be classified as business activities.\u2019<\/p>\n\n\n\n

According to L.H. Haney,<\/strong> “Business may be defined as human activity directed towards producing or acquiring wealth through buying or selling goods.”<\/p>\n\n\n\n

Thus, in essence, business concerns with buying and selling goods, manufacturing goods or providing services in order to earn profit.<\/p>\n\n\n\n

\"TYPES
TYPES OF BUSINESS<\/strong><\/figcaption><\/figure>\n\n\n\n
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