The Role of businesses in society
A business will have customers whose
needs or wants they want to meet,
What is a Business? Definition Example
Wants Items that Designer
A business is an organisation that
you would clothes,
carries out activities with the goal of like to have holidays,
making profit. but are not cars,
necessary
smartphon
to your
survival.
es
Needs Items that Water,
you must housing,
have to foods,
survive, clothes
without
these, life
would be
difficult or
impossible
Goods are products that you can see
Sole Trader One person who and touch (tangible) such as laptops,
owns and clothes or foods.
manages their
own business. Services are products that you cannot
Partnership 2 or more people hold or touch (intangible) such as public
who own and transport, a haircut or a visit to the
manage their own cinema.
business.
Limited Owned by
Company shareholders but
manages by
directors.
The main objective of a
business?
To make more money than what I spent on
producing or delivering goods or services.
Total Income – Total Expenses = Total
profit
1
A business will have customers whose
needs or wants they want to meet,
What is a Business? Definition Example
Wants Items that Designer
A business is an organisation that
you would clothes,
carries out activities with the goal of like to have holidays,
making profit. but are not cars,
necessary
smartphon
to your
survival.
es
Needs Items that Water,
you must housing,
have to foods,
survive, clothes
without
these, life
would be
difficult or
impossible
Goods are products that you can see
Sole Trader One person who and touch (tangible) such as laptops,
owns and clothes or foods.
manages their
own business. Services are products that you cannot
Partnership 2 or more people hold or touch (intangible) such as public
who own and transport, a haircut or a visit to the
manage their own cinema.
business.
Limited Owned by
Company shareholders but
manages by
directors.
The main objective of a
business?
To make more money than what I spent on
producing or delivering goods or services.
Total Income – Total Expenses = Total
profit
1
