1.1.5 The role of business enterprise

Question 1

What are the two roles of a business enterprise?

Answer 1

• To provide goods or services
• The meet customer needs and wants

Question 2

What is the difference between customer needs and wants?

Answer 2

Needs are the products or services people need to make life comfortable.
Wants are what people choose to spend their money on, once the weekly bills have been
paid.