GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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goods-producing business
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output
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industrial businesses
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service businesses
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Detailed explanation-1: -industry, group of productive enterprises or organizations that produce or supply goods, services, or sources of income.
Detailed explanation-2: -A manufacturing business is any business that uses components, parts or raw materials to make a finished good. These finished goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product.
Detailed explanation-3: -A business is a privately owned organization that produces goods and services and then sells them.
Detailed explanation-4: -Businesses seek to make a profit. Without a profit, a company cannot survive. The wealth created by businesses benefits the entire community because businesses pay taxes and provide jobs.
Detailed explanation-5: -What is a business? An organization that produces or sells goods or services to satisfy the needs, wants, and demands of consumers for the purpose of making a profit.