Questions -What do you understand by business? Describe different types of business activities with examples. Answer -Business refers to the organized effort of individuals or organizations to produce and sell goods or services with the goal of earning a profit. Different types of business activities include: 1. Production: Creating goods or services, e.g., manufacturing, farming, or software development. 2. Distribution: Moving goods or services from the producer to the consumer, e.g., logistics, transportation, or wholesaling. 3. Marketing: Promoting and selling goods or services, e.g., advertising, sales, or branding. 4. Finance: Managing money and investments, e.g., banking, accounting, or investing. 5. Human Resources: Managing employee relations, training, and benefits, e.g., recruitment, talent management, or employee engagement. 6. Research and Development: Creating new products, services, or processes, e.g., innovation, product design, or scientific research. 7. Operations: M
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