Economics and Business

An organisation that produces and distributes goods and services is called a ______________

What are the 2 main aims of a business?

• To make more money than the competition

• Make a profit

• To have popular goods or services

• Satisfy particular needs and wants

As a stall holder at the markets you are a ___________

Tick all the Goods

• Hair Cut

• Nike Sneakers

• Halloween Lolly bag

• A trip to Sea World

• Doctor Who video

Goods are something ___________

If the income is higher than the expenses, you made a

• Loss

• Profit

If your expenses are higher than your income, it is called a ____________

Businesses buy their goods from a ___________

What are the top 5 things you need to include in a business plan?

A business plan...

• ...is the same as a budget

• ...mainly describes the product

• ... is a document providing the important details of a business

• ...shows the business idea of a company