Business assignment

 Student name:- sara abdulkadir

 Section:-1107

 Submitted to:-Teacher Abdu

 Submittion date:-27/12/21
 Questions and Answers
Q1, what is business?
A, business can be defined as a socio-economic activity
that satisfies human needs and wants by providing goods
and services for profits to maintain and improve quality
of life.

Q2, what the role of business enterprise for

economics grow?
A, business enterprises among the major establishment in
any country that influence social and individual life.

Q3, what is different between goods and

services?
A, goods are tangible as in these have a physical presence
and they can be touched, while services are intangible in
nature , services are activities that help people or
organization without directly creating a physical product
Q4, list and explain briefly the four domantion
of services ?
A, services have four characteristics. These are:-
A) Service intangibility:- means that services cannot
be seen, tasted, felt, heard or smelled before it is
bought or consumed.
B) Service inseparability:- means that services cannot
be separated from their provides whether the
providers are people or machines.
C) Services variability:- means that the equality of
services depends on who provides them as well as
when ,where and how they are provided.
D) Service perishability:- means that services cannot
be stored for later sale or use.
Q5, taking as a model of individual worker
basic salary rate 30%. Calculate the net pay
income and he personality income?
A, personal IT= Ato biruk works monthly
salary=5000birr
Income tax-(5000 ×30)=1500
1500-412.50 = 1,087.5
Income after income tax=1,087.5-5000 = 3,912.5
Net profit = net profits per year = 60,000
Profits tax= 60,000×30% - 4950.00
=18,000 – 4950.00
= 13,050.00

Q6, what is the difference between continuous

processes and intermittent processes?
A, continuous process run for long periods of time with
few pauses or changes.
- Intermittent processes are suited to custom products.
A custom product is made according to the
customer’s specification and design.

Q7, what is the difference between brohers

and agent?
A, agents are firms that act on behalf of the
manufactures, brohers bring buyer and sellers
together and assist in negotiation.
Q8, what is the difference between
wholesaler and retailer ?
A, a retailer is a seller who deals directly with
consumers, wholesaler is a business firms that buys
goods in large quantity from different manufactures
and re-sales them in smaller lots

Q9, list the basic of business cycle?

A, -peak - trough - contraction -expansion
-peak:- is reached when the economy has produced
the greatest amount of output.
-trough:-or depressions and unemployment tends to
be as its peak and production at it low point.
-contraction:- a contraction generally occurs after the
business cycle peaks , but before it becomes a
through.
-expansion:-is where the economy is experiencing
positive and increasing economic output.

Q10, what is the business law?

A, business law is concerned with any segment of the
legal system that provides for a smooth and orderly
flow of business transaction and the settlement of any
disputes that many arise over this transaction.

The
End