8D Basic knowledge Business

Goods and services that are necessary for survival. Examples are food, water, clothing and housing

• Wants

• Needs

• Services

• Goods

Work performed for others. It cannot be seen or touched but it can be experienced.

• Goods

• Customer

• Labour

• Services

The money needed to start a business. It also refers to the buildings, equipment and machinery used to produce goods and services.

• Debit card

• Credit

• Capital

• ATM

Someone who buys goods and services from a business.

• Labour

• Businessman

• Workers

• Customer

Something made by businesses to satisfy customers’ needs and wants. It can be seen and touched.

• Services

• Goods

• Needs

• Wants

Goods and services that are not necessary for our survival but what we wish to have.

• Needs

• Goods

• Services

• Wants

The use of business resources to produce goods and services to earn profits

• Capital

• Machine

• Labour

• Enterprise

The efforts of the people involved in the production of goods and services

• Labour

• Land

• Enterprise

• Capital

Natural resources such as the sea, forest, minerals and petroleum.

• Land

• Labour

• Agriculture

• Sea

The are people who take risk to start and run their own business.

• Businessman

• Entrepreneur

• Saler

• sale assistant