Business Definition And That Means
In earlier days revenue maximisation was the only objective of business. In trendy days this chasing idea of business is modified and business has become a social and financial establishment. According to Alfred Marshal It is the research of mankind in the “Ordinary business of life”. Businesses are financial establishments and they survive so long as they can earn cash. Profit is the risk premium and reward for the efforts and hard work put in by the businessman. Profit is the engine of development and is a measure of the success of a business.
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