Why Businesses Exist Flashcards by Charlotte Avery

Q

What is a good

A

A physical product

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Q

What is a service

A

An intagable item (insurance/decorating)

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Q

What is a product

A

General term of either a good or service

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Q

Why do people start a business

A

profit
achievement
change in lifestyle
provide a good/service

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Q

Why are businesses important to the uk

A

create new products
creates wealth
creates employment

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Q

What does the primary sector consist of

A

Agriculture,forestry,fishing,mining

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Q

What does the secondary sector consist of

A

Manufacturing,construction

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Q

What does the tertiary sector consist of

A

Services (hotels,catering,transport)

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