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  • Purpose of Business
  • businesses fulfill the needs and wants of consumers
  • Needs and Wants
  • need are things that are necessary for survial
  • Wants-are not necessary for our survival but add pleasure and comfort to our lives.
  • Consumer
  • a consumer is a person that uses goods or service
  • Product 
  • Customers purchase goods and services
  • Goods and Services
  • Goods—clothing, cars, computers, CDs Services—hairdresser, dry cleaner, lawn care, babysitting
  • Examples of wants are MP3 players, TVs, sodas, candy bars, jewelry, and make-up.
  • Profit Motive
  • Products are physical goods or services that can satisfy consumer needs.
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