Why Do Businesses Exist?

Question 1

Why do businesses exist?

Answer 1

• Supplier of goods and services
• impact on the country and its residents
• the transformation process
• B2C
• B2B
• sectors

Question 2

Why are businesses considered suppliers of goods and services?

Answer 2

Suppliers are companies that provide goods or services that a company or business requires producing its products or achieving its aims.

Question 3

How do businesses impact the country and its residents?

Answer 3

• businesses provide employment which allows individuals to earn an income and purchase goods and services (e.g. In 2019, Tescos employed around 300,000 staff.)
• Businesses create new goods and services which can enhance the lives of consumers.
• Businesses can allow a country to improve and develop the country’s reputation.