Short essay on the Evolution of Business

ADVERTISEMENTS:

A Business activity includes both production of goods and services and distribution of goods and services. Production of goods and services refers to the industrial activity of a business whereas distribution of goods and services refers to the commercial activity of a business.

The system of producing and distributing goods and services is the result of a gradual development in these activities spread over a long period of human existence.

We can examine the growth of business over a period of time in two phases.

ADVERTISEMENTS:

a) Evolution of Commercial activities and

b) Evolution of Industrial activities.

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