a. Explain the concepts of value chain and supply chain?
b. What are types and methods of advertisement?
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Business refers to an activity of trade where sale and purchase of either goods or services is done with an objective of earning profits. The activity of manufacturing goods for the purpose of sale is also considered as business.
In the simplest terms it can be said that any activity done with an objective of earning profits can be termed as business. To operate a business, a businessman has to manage several functions to keep the business running smoothly and efficiently.
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