What is the role of profit in business? | Class 11 Business Studies Chapter Business, Trade and Commerce, Business, Trade and Commerce NCERT Solutions
Question: What is the role of profit in business?
Answer:
The roles of profit in business are:
- Means of livelihood for businessmen.
- Sources of funds for business growth.
- Index of performance.
- Reward for risk taking.
- Provides better employee remuneration and amenities.
- Better working conditions.
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Study Tips for Answering NCERT Questions:
NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:
- Read the question carefully and focus on the core concept being asked.
- Reference examples and data from the chapter when answering questions about Business, Trade and Commerce.
- Review previous year question papers to get an idea of how such questions may be framed in exams.
- Practice answering questions within the time limit to improve your speed and accuracy.
- Discuss your answers with your teachers or peers to get feedback and improve your understanding.
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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 12: What is the role of profit in business?....
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