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  • purpose of business 
  • The purpose of business is to fulfil your costomer
  • needs and wants
  • needs are things that are necessary for survival.
  • wants are not necessary for our survival but add pleasure and comfort to our lives.
  • consumer
  • A consumer is someone who uses goods or services 
  • products
  • Products are physical goods or services that can satisfy consumer needs.
  • goods and services 
  • Services—hairdresser, dry cleaner, lawn care, babysitting
  • Goods—clothing, cars, computers, CDs
  • profit motive 
  • Profit motive—desire to make money; see the opportunity to make money in the marketplace.
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