Evolution and Fundamentals of Business

Categories: Business
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About Course

In this course, we will discuss:

1. What is the meaning of business? Why is business considered an economic activity?

2. What is the difference between Economic activities and non-Economic activities?

3. What are the important characteristics of business?

4. Compare business with profession and employment.

5. Explain a few objectives of the business.

6. Explain business activities that are auxiliaries to trade.

7. What factors are to be considered while starting a business? Explain.

8. How would you classify business activities?

9. Define Industry. Explain various types of industries giving examples.

10. Describe the activities relating to commerce.

11. What is meant by business risk? Write a few lines on the nature of business risks.

12. State the causes of risks involved in the business?

13. Business enterprises constantly face two types of risk. What are those risks?

14. How does business contribute to the economic development of a country?

15. Critical analysis of business’s role in India’s growth and development.

16. If a businessman has “Profit maximization” as his sole objective, can he succeed in the long run?

17. All industries are dependent on each other and affect each other’s functioning? Discuss.

18.  What do you mean by Internal Trade, External Trade, and Entrepot trade?

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Course Content

Evolution and Fundamentals of Business

  • Introduction
  • Concept and characteristics of Business, Economic and Non-economic activities
  • Difference between Business, Profession & Employment, Objectives of business
  • Factors affecting business decision
  • Classification of business activities, Meaning of Industry & its classification
  • Commerce, Trade and Auxiliaries to trade
  • Business Risks, , Nature and causes of business risks
  • Role of business in growth and development of nation