Question

What are the definition and purpose of a business? A business provides goods or services in exchange for . The goal of a business, if it wants to survive over time, is to .

Answer 1

Business provides goods or services in exchange for payment. The goal of a business, if it wants to survive over time, is to make profit

What is a business?

This refers to any activity carried out by an individual or an organisation with an aim of making profit.

Some of the reason that business serves includes:

• Earning of profit
• Raises the standard of living
• Creates employment
• Earns revenue for a country etc.

Therefore, the word "payment" and "make profit" is correct.

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