Form 1 Business Studies online lessons on business and its environment
What are the reasons for the existence of businesses
Viewed: 1035 times
Share in:
Explanation/Answer Text:
-To provide goods and services-Businesses exist to satisfy the needs and wants
of buyers by providing them with goods and services. Buyers include individual consumers, other businesses
and the government.
-To create employment- Businesses provide job opportunities through which members of society can earn
money, which can be used to buy goods and services for the satisfaction of their needs.
-To earn profit-Profit is the primary goal of carrying out business operations. It is earned by the people who put their resources and effort in business
-As an outlet of new innovation-Some businesses provide unique goods and services which may not be existing in society e.g. plastic fencingpoles that are now replacing wooden poles.
-To be as own boss-Some people run businesses so as to be in full control of the operations and make all the decisions regarding the business without need of reference to people
of buyers by providing them with goods and services. Buyers include individual consumers, other businesses
and the government.
-To create employment- Businesses provide job opportunities through which members of society can earn
money, which can be used to buy goods and services for the satisfaction of their needs.
-To earn profit-Profit is the primary goal of carrying out business operations. It is earned by the people who put their resources and effort in business
-As an outlet of new innovation-Some businesses provide unique goods and services which may not be existing in society e.g. plastic fencingpoles that are now replacing wooden poles.
-To be as own boss-Some people run businesses so as to be in full control of the operations and make all the decisions regarding the business without need of reference to people
Questions/Lessons List
1. Explain the different types of business activities. ( free lesson)
2. What are the reasons for the existence of businesses ( free lesson)
4. Explain external business environment giving examples ( free lesson)
5. Outline the negative effects of the internal business environment to the business. ( free lesson)
7. Explain the Ways in which external environment can negatively impact on a business ( free lesson)
