the cycle of business Flashcards
(4 cards)
1
Q
what is the first stage in the cycle of business?
A
consumers have needs and wants
2
Q
what is the second stage in the cycle of business?
A
businessds carry out market research to identify there needs and wants
3
Q
what is the third stage in the cycle of business?
A
businesses produce goods and services
4
Q
what is the fourth stage in the cycle of business?
A
goods and services are bought and consumed
