What is a business?
An organisation that provides goods and sevices in order to satisfy the needs and want of the consumer.
- Need - something that we need to surivive (eg, food, shelter, clothing& water).
- Wants - something which we do not require to survive but would make life more pleasurable.
- Goods - tangible products durable and single use (e.g, computer,match).
- Services - when something is provided/ done for you, (e.g, taxi driver, hairdresser.
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Sectors Of Industry
- Primary- business organisations that use/ extract natural resources (e.g, fishing, farming).
- Secondary- business organisations involved in the manufacturing of goods (e.g, Car Manufacture).
- Tertiary - Business organisations that provide services (e.g, hairdressers, fire service).
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