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Name and explain two characteristics of business as an economic activity? 

Asked by Topperlearning User 17th June 2016, 5:21 PM
Answered by Expert
Answer:

The characteristics of business as an economic activity are

  1. Element of risk: Loss occurs because of natural and human cause
  2. Uncertainty of returns: Even though there is an effective planning, it may lead to loss because of competition and change in demand in the market
Answered by Expert 17th June 2016, 7:21 PM
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