Final answer:
While profit is essential for a business's survival and is the primary measure of its viability, it is not its sole objective. A successful business also aims to create value for consumers, offer good employment, and make positive societal contributions, which can support its long-term success.
Step-by-step explanation:
The statement "Profit can no more be the objective of business than eating is the objective of living" suggests the idea that while profit is essential for a business's survival, it is not the sole purpose of its existence, much like how eating is necessary for survival but not the sole purpose of life.
Business owners and producers usually aim to make decisions that improve their financial wellbeing, primarily through the pursuit of profits, which are the difference between the cost to produce a good and the price received from selling it.
Profits are indeed the measurement that determines whether a business remains in operation. Without profits, a firm may cease to exist because it cannot cover its costs or provide a return on investment. However, there is a growing perspective that businesses also have broader social responsibilities, including environmental stewardship, ethical practices, and contributions to community well-being.
In essence, while generating profit is a fundamental objective of a business, it is not the only goal. A successful business not only provides financial returns but also delivers value to its consumers, provides rewarding employment opportunities, and contributes positively to society. These broader contributions can, in turn, support the long-term sustainability and profitability of a business.