In a normal sense, Business is all legitimate economic activity, including production and distribution, for the purpose of making a profit. Business is related to an equation which is as follows: B = ΣI+ ΣT + ΣAT Where, ΣI = Industry (Related to production) ΣT = Trade (Distribution of products) ΣAT = Auxiliaries to trade (Business related all activities) Definition of Business by Different Authors: Koontz and Fulmer define business as: “Any person, group company or government department or agency whose purpose is to produce or sell products or services.”…
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