Why Businesses Exist Flashcards
1
Q
What is a good
A
A physical product
2
Q
What is a service
A
An intagable item (insurance/decorating)
3
Q
What is a product
A
General term of either a good or service
4
Q
Why do people start a business
A
- profit
- achievement
- change in lifestyle
- provide a good/service
5
Q
Why are businesses important to the uk
A
- create new products
- creates wealth
- creates employment
6
Q
What does the primary sector consist of
A
Agriculture,forestry,fishing,mining
7
Q
What does the secondary sector consist of
A
Manufacturing,construction
8
Q
What does the tertiary sector consist of
A
Services (hotels,catering,transport)
