What Is A Business?

Business are organisation which produce Goods and Services. They do this by using resources such as Raw Materials, labour and Machines.
Business buy the Goods and Services they need from suppliers. They sell their own products to customers.

Key aspects of business:...

Suppliers: A business which sells ( or supplies) products to another business.

Customers: Any person or organisation which buys or is supplied with a product by a business.

Consumer: The person who ultimately uses ( or consumes )a product.

Markets: Where buyer and seller meet to exchange goods and services.

Goods: Physical and tangible products.

Services: Intangible products or non-physical products.

Product: A good or service provided by a business to customers.

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This is a job which is taken up by you  

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