Econolevel

Monday, October 12, 2015

Business Organisation Introduction



Business: a business is an organization obtaining a profit by supplying a good, service or both.
Business Organization:  The term "business organization" refers to how a business is structured.

Some business organizations are formed to earn income for owners. Other business organizations, called nonprofits, are formed for public purposes.
Plant: Plant is a production unit in a firm

Firm: A Firm is a unit of management which trades under a particular name

Industry: Industry consist of firms producing a particular commodity


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