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EXERCISE
Give short answers to the following questions.
1. What is meant by business? Explain any four features of business.
2. What is sole trading concern? Explain any four advantages of it.
3. Explain any five types of partners.
4. Define joint stock company with its any four merits.
5. What is the importance of business?
6. Define public enterprises. Write any four needs of public enterprises.
Give long answers to the following questions.
1. Define business with its importance.
2. What is multinational corporation? Explain its any four advantages and four
disadvantages.
3. What is co-operative organization? Explain types of co-operative organizations.
4. What type of organization is joint stock company? Explain its four advantages
and four disadvantages.
5. What is multinational company? Explain its characteristics.
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