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WAEC Commerce 1996 Question 89

Question 89

Introduction to Commerce

Which of the following clearly defines business?

  1. A.The process of planning, coordinating, organizing and controlling
  2. B.The act of achieving goals with the help of others
  3. C.The act of buying and selling
  4. D.Sole Proprietorship, Partnership and Public Limited Companies
  5. E.Any productive activity undertaken for profit motive
Show the answer and explanation

Answer: E (Any productive activity undertaken for profit motive)

Explanation

A business is any productive activity carried on to make profit.