Question

Define the following terms;

1. Business
2. Business studies
3. Production
4. Commerce

Answer 1

1. Business - Any activity carried out by an individual or an organisation concerning provision of goods and services with the aim of making profit
2. Business studies - The study of the activities that take place in and around production, distribution and consumption of goods and services
3. Production- Creation of goods and services
4. Increasing the usefulness of goods and services
5. Commerce - The study of trade and aids to trade

Answer 2

Business is any activity that is carried out by individual or organisation that involves production,distribution and consumption of goods and services with an aim of making profit.
Business studies is an examination that take place in and around production, distribution and consumption of goods and services .production is the creation of goods and services. 
Commerce is the study of trade and aid to trade.

Answer 3

Business refers to any activity  out by individual or organization concerning goods and services with aim of making a profit

Business studies is the study of production , distribution and consumption of goods and services

Production  is the creation of goods and services


Commerce is the study of aid to trades