Sunday, September 1, 2024

Definition and Types of Business



Definition and Types of Business
Business
         

              The exchange of goods and services for cash or on credit is Business. If you start selling products or render services, you become business man.




Types

Local 

              Confined to a limited area is called local business.

National

            Business inside country among states comes in this group

Foreign

               Business between countries in world is known as foreign business



Small scale and Large scale business

The business with low investment is called small scale business while heavy investment for business is termed as large scale business.




In Detail

Business helps to build up nation. It is the main source of income for employees as well as owners. Whatever may be its size but earning always flows in. But for business there would be no earning at all. Hence it is the back bone of all nations economy. When business generate demand for a particular product, the production for same go on. Ultimately there arise more employment, more transactions and more probability of economy strength. All types of business starts with a expectance of better financial status in future. In order to strengthen economy of society, business plays a very crucial role. 

Local Business

This business takes place in a particular local area. Where all types of transactions held with in a certain confined area like small town, or villages or in district in broad sense. This includes production, buying and selling of local goods and services. The commodities are priced by local government body. 

State level business

When exchanges of goods and services takes place among districts of a state is called state level business. In this case goods and services are buying and selling inside state between districts. State government makes policies and work according to maintain this business.

Nation Level Business

If many states inside a country involves to exchange goods and commodities among them, then it is called nation level business. This helps to exchange local products throughout the nation. many big industries supply their products all over the country.

International Level Business

There are many agreements between various countries and continents for exchanging goods and services which is termed as international level business. In such pact different countries agree with counter part for selling own commodities in foreign countries. All govt as well as public industries carry on such business.  



   

No comments:

Post a Comment

Spoken English: Manners (Etiquette)

  Spoken English: Manners (Etiquette) Manners (Etiquette) Words Purpose Example Please To ...