Business Management - 1.1.2 INTRODUCTION - REVIEW 2
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Fill in the blank: “The role of businesses is to combine human, physical and financial resources to create goods and services in order to satisfy the.........and.........of people, organizations and governments.”
needs and wants
What is a business?
a decision-making organization involved in the process of using inputs to produce goods and/ or to provide services.
Distinguish between customers and consumers of a business?
Customers are the people or organizations that buy a product whereas Consumers are the ones who actually use the product.
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