Business Entrepreneurship · Classes 9-10 · Chapter 1
Concept and Features of Business.
Running a medicine shop and growing vegetables for your family are both economic activities. Yet one is business and the other is not. Where is the line? The short answer is the hope of profit, plus two more conditions.
1. What business is
Economic activities with a view to making a profit are termed as business. The definition holds two things: the activity is economic, and its aim is profit.
Trading rice, raising poultry, selling medicine and operating a beauty parlour are each an economic activity. They are included in business only if done to earn a living and with the intention of making a profit.
2. When it is business and when it is not
One piece of work, two switches. Change who it is for and whether the way is legal, and see when the verdict flips.
change the aimflip the switches
When is it business?
Producing food, rearing poultry or cultivating vegetables for the family is not business. But when a farmer cultivates paddy or grows vegetables to make a profit, it is treated as business. The work is the same; the purpose differs. Sort six activities into two boxes below.
sort themIs there a profit aim?
Business or not?
Pick up a chip, then drop it in a box. Ask: is there a profit aim, or only the family's need?
Right. Next one.
Not yet. Is the work done for profit, or for own use?
All in place. Growing paddy to sell, and selling medicine or running a parlour for profit, are business because there is a profit aim. Vegetables, poultry or food for the family are not business because they are for own use.
A profit aim alone is not enough. Economic activities operated to make profit are treated as business if they are done legally and in right ways. So two conditions are checked together: is there a profit aim, and is the way legal? Tap each row of the grid.
gridCheck profit and legality
Two conditions
activity (imaginary)
profit aim
legal
result
vegetables grown for sale
yes
yes
business
vegetables for the family
no
yes
not business
selling goods made by an unlawful method
yes
no
not counted
selling medicine for profit
yes
yes
business
There is a profit aim and the way is legal. When a farmer grows vegetables to make a profit, it is treated as business.
The way is legal, but there is no profit aim. Cultivating vegetables for the family is not business.
There is a profit aim, but the way is not legal. The book's condition is that the activity be done legally and in right ways, so this is not treated as business.
There is a profit aim and the way is legal. Both conditions are met, so it is business.
3. Where business came from
The basic reason behind the emergence of business was the feeling of want. To meet this want, people engage in economic activities to earn a living. In this way business evolved on the basis of economic activities and transactions.
4. Features of business
The Bangla book calls business an independent profession, and that is what sets it apart from other professions.
The remaining features sit on six chips. Tap each one and read the book's line.
featuresTap a chip to read the book's line
Features of business
Monetary value. Goods or services related to business must have monetary value.
Risk and uncertainty. Business is connected with risk, and with uncertainty alongside it.
Investment. Mainly, a business person invests to earn profit.
Service. A business person must have the feeling for service along with generating profit.
Morality. Business has a sense of morality and social responsibility, and must consider it.
Legality. Profit-making counts as business only if done legally and in right ways.
All six seen.
Take the features one at a time. Goods or services must carry monetary value. Business comes with risk and uncertainty. And a business person invests money mainly in the hope of profit.
See investment for profit and risk side by side. Put money in, then go to market a few times.
risk and uncertaintygo to market
Profit today, loss tomorrow
The amounts and the market days are made up, only to show the idea.
Profit is not the last word. Along with profit a business person needs a feeling for service, and must also weigh morality and social responsibility.
5. Check yourself
Start with the first question.
check yourselfpick one answer
Question 1
What is an economic activity run with the aim of making a profit generally called?
Right. Economic activities with a view to making a profit are termed as business.
Industry: the carrier of production. The correct answer is Business.
Direct services: self-employed professionals' services for money. The correct answer is Business.
Commerce: the branch that distributes products and services. The correct answer is Business.
In the second, recall the conditions.
check yourselfpick one answer
Question 2
Business is,
i. Production and distribution of goods ii. Fish farming to make a profit iii. Producing food for the family
Right. i and ii are true; iii is false: Producing food for the family is not business.
Statement iii is false: Producing food for the family is not business.
Statement iii is false: Producing food for the family is not business.
Statement iii is false: Producing food for the family is not business.
Think the last one through the same way.
check yourselfpick one answer
Question 3
Mr. Fahim supplies food to a hotel. He also grows vegetables on his own land and sells them. What kind of work does this belong to?
'Family' does not fit here. The book says: Trading rice, raising poultry, selling medicine and operating a beauty parlour are each an economic activity.
'Institutional' does not fit here. The book says: Trading rice, raising poultry, selling medicine and operating a beauty parlour are each an economic activity.
Right. Trading rice, raising poultry, selling medicine and operating a beauty parlour are each an economic activity.
'Social' does not fit here. The book says: Trading rice, raising poultry, selling medicine and operating a beauty parlour are each an economic activity.
The whole note on seven cards.
cut from the notetap to turn over
Seven cards
QuestionWhat is business?
AnswerEconomic activities with a view to making a profit are termed as business.
QuestionGrowing vegetables for the family and growing vegetables for sale: which one is business?
AnswerGrowing for sale (to make a profit) is business; growing for the family is not.
QuestionWhat condition about law must a profit-making economic activity meet to be treated as business?
AnswerIt must be done legally and in right ways.
QuestionGoods or services related to business must have ….
Answermonetary value
QuestionApart from profit, which two matters must a business consider?
AnswerMorality and social responsibility.
QuestionWhat is the money left after subtracting the cost price and other expenses from the sale price called (as board questions put it)?
AnswerProfit.
QuestionWhat kind of institution do board questions call business?
AnswerA social institution (the 2026 book has no such sentence; it calls business an economic activity).
Source: Business Entrepreneurship, Classes 9-10 (NCTB), Chapter 1 “Introduction to Business”, the “Concept and Features of Business” part.