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.


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?....