starting a business

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  • Created by: Aliah123
  • Created on: 25-01-16 21:41

what is a business?

A business is any organisation that makes goods or provides services. 

Goods are physical products. eg) burgers or cars 

services are non-physical items eg) hairdressing. 

Customer needs are the wants and desires of buyers/customers.  

Businesses buy the products they need from suppliers - (firms selling products to other business) 

Businesses sell to customers - ( the people who buy the products) 

The individual using the product is calld a consumer 

Market = any place where buyers and sellers meet to trade products- this can be a high street shop, or a website. 

Businesses are likely to be in competion with other firms offering similar products. 

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