Answer each of the following questions in eight to ten sentences:

What are the economic objectives of business?

The production and distribution of goods and services to consumers form the basics of business which is considered to be an important economic activity. It can be engaged in commercial, industrial or professional activities. It may be profit oriented or a non-profit organization. The sole economic objective of business thus, is not profit maximisation. Instead it involves the earning of a reasonable amount of profit firstly to cover the costs accrued by it and secondly to provide the business man with the ability to lead a comfortable life. It is important for the consumers as they access the goods and services supplied by business. It also enables technological development as it is in tune with customer demands and requirements. It supports the field of advertising as it utilizes advertisements to inform customers about different products available for consumption.