Why Businesses Exist

Question 1

True or False:

Businesses are set up for various reasons

Answer 1

True

Question 2

What do businesses provide for customers?

Answer 2

Goods and services

Question 3

True or False:

Businesses can have different aims

Answer 3

True

Question 4

Name the (common) most important aim for businesses

Answer 4

Profit so that they can survive

Question 5

Name some other business aims

Answer 5

Be the biggest in their market
Highest quality product
Expand as quickly as possible
Satisfy customers
Be environmentally friendly

Question 6

Businesses that don’t make money are called -

Answer 6

Non-profit organisations

Charities