role of business enterprise <3

Question 1

What purposes do businesses serve?

Answer 1

Businesses serve services or products, or a mix of both.

Question 2

Goods

Answer 2

These are physical products such as play station consoles or Coca Cola soft drinks.

Question 3

Services

Answer 3

These are a non-physical action performed by a business to help a customer. Snapchat is an example of this.

Question 4

B2B + B2C

Answer 4

Some businesses sell products or services to other businesses whereas others sell these to customers.

Question 5

What do businesses do?

Answer 5

Businesses can serve either customers’ needs or wants. Some businesses are called distributors - they buy products from manufacturers and sell them onto businesses or customers

Question 6

Customer’s needs

Answer 6

Customers needs are the things they want or can’t live without.

Question 7

Why are businesses set up?

Answer 7

Businesses may be set up to benefit other people or to benefit society as a whole. These businesses are often not-for-profit organisations.