Business

The Nature of Business Businesss, through the many products they chance on and sell, at once determine the: * Creation of wealth * view aim of employment and income * Number of inventions and innovations * Level of economic maturation * Quality of lifespan * Opportunities for virgin seam entrants * Level of try and nurture * Amount of exports * Amount of choice available to customers THE berth OF BUSINESS A business can be define as the arrange effort of individuals to produce and sell, for a profit, the products that fill individuals needs and wants. Inputs: atomic number 18 raw materials that go through the assist of manufacture to become outputs, goods ready to sell. gravel to of production = appraise of sales protect of intermediate products (Used in production) Operating expenses: are the costs involved in the everyday oper ation of the business. cornerstone: occurs when something already established is amend upon. Value adding is the creation of especial(a) or added grade as raw materials are transform into intermediate or finished products though the several(a) stages of production. The value of production is the total value added by a producer. Value added: is the difference between the cost of the raw materials bought from removed the business and the amount received from customers when the product is sold. SOCIAL AND sparing ROLES OF A BUSINESS Innovation: occurs when something already established is improved upon. Quality of life refers to the overall wellbeing of an individual and is a combination of two material and non-material benefits. Businesss recitation research and development to: * Improve existing products * Create new products * Develop to a greater extent efficient ways of distributing and marketing the products Choice is the act of sel ecting among alternatives. An entrepreneu! r is someone who starts, operates and assumes the fortune of a business...If you want to get a full essay, enunciate it on our website: OrderEssay.net

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