Businesses produce goods and services to sell to customers at a profit. The purpose of business activity is to provide what customers want at a price they are willing to pay. Businesses classify their products and use factors of production like labor, capital, land and entrepreneurship to create goods and services for sale.
Businesses produce goods and services to sell to customers at a profit. The purpose of business activity is to provide what customers want at a price they are willing to pay. Businesses classify their products and use factors of production like labor, capital, land and entrepreneurship to create goods and services for sale.
Businesses produce goods and services to sell to customers at a profit. The purpose of business activity is to provide what customers want at a price they are willing to pay. Businesses classify their products and use factors of production like labor, capital, land and entrepreneurship to create goods and services for sale.
ACTIVITY Businesses carry out activities such as producing goods or providing services with the aim of selling them to customers and making a profit. As such, the purpose of business activity is to provide goods and services that customers want, at a price that they are willing to pay. CLASSIFICATION OF PRODUCTS FACTORS OF PRODUCTION