Three characteristics of business include:
- They are established for profit.
- They engage in economic activity.
- There is risk and uncertainty.
What are some characteristics of business?
Businesses have the characteristics of being created to make profit. No rational human establishes a business to make losses. They establish businesses to bring them more than they invested which can only happen when there is profit.
Businesses make this profit by engaging in economic activities which include buying goods and services, and selling them for higher amounts. Not every business venture will be successful however so there is risk and uncertainty.
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