Profit is the reward for risk taking Causes of Business Risks Natural causes:Natural causes are beyond the control of human beings. Natural disasters can lead to huge losses in business. Human causes:Strikes, dishonesty, carelessness, etc. are examples of human causes of business risk. ...
Question 3: Explain the concept of business. Answer:An economic activity involving the production and sale of goods and services undertaken with a motive of earning profit by satisfying human needs in society is called business. Business is an economic activity and any non-economic activity; like...