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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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.
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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?....

What is the role of profit in business? | Class 11 Business Studies Chapter Business, Trade and Commerce, Business, Trade and Commerce NCERT Solutions

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