What are the main characteristics of business?

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Business is an economic activity involving regular production and exchange of goods or services to earn profit under uncertainty.

Economic activity: Main goal is earning money through production or exchange.
Production or procurement: Goods or services must be produced or acquired for sale.
Sale or exchange: Transfer to customers for value is essential.
Profit motive: Profit is the reward for risk and enterprise.
Regularity: Business requires continuous operations not a one-time deal.
Uncertainty and risk: Future profits depend on market conditions.
Customer satisfaction: Key for long-term success and reputation.
Innovation and adaptation: Changing methods with technology and consumer needs.

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