Students can go through AP Inter 1st Year Commerce Notes 2nd Lesson Business Activities will help students in revising the entire concepts quickly.

AP Inter 1st Year Commerce Notes 2nd Lesson Business Activities

→ All business activities are economic activities, a man is engaged in, to earn his livelihood by producing and distributing goods and rendering services.

→ Business may be defined as a human activity directed towards producing or acquiring wealth through buying and selling of goods.

→ Industry refers to the production of consumer goods and capital goods, creating form utility.

AP Inter 1st Year Commerce Notes Chapter 2 Business Activities

→ Commerce is part of the business. It deals with buying and selling goods and services. Commerce is concerned only with the exchange of goods. It includes all those activities which are related to the transfer of goods from the production place to the consumption place.

→ Trade means the purchase and sale of goods with a profit motive. It involves the exchange of goods and services between buyers and sellers.

→ Aids to trade include transport, communication, warehousing, banking, insurance, and advertising.