Purpose of Business Activity

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  • Created by: Rachelle
  • Created on: 24-04-13 13:08
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  • Purpose of Business Activity
    • Provide a good or service
    • Satisfy the needs and wants of the population
    • Employs people and pays wages, allowing them to consume products made by other people.
    • Unlimited human wants vs. scarcity of factors of production.
      • Enterprise
      • Land
      • Labor
      • Capital
    • Objectives
      • Profit
      • Increase added value
      • expand business
      • survive
      • Provide a service for the community
    • Conflicting Groups
      • Consumers
      • Community
      • Workers
      • Directors

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