We know that,
Here,
B=Business
E/C=Exchange of goods & service
P=factors of production
P includes Man, Machines, Money, Materials, Methods. They can be
regarded as 5M. That means =5M
E/C includes Market as all the commerce related actives are done in
market, so it can be denoted as M.
So, E/C=M
From the above equation:
So, Business is nothing but the combination 6M
