Commerce Introduction to Businesses

• Business refers to:
• Activities carried out in order to make profit for example:
• manufacturing goods for sale.
• Providing services e.g. Hotels.
• Extracting minerals such as gold.
• Farming produce for sale.
• Business entities/organisations can be divided into two groups i.e. private and public sector businesses.

Public sector businesses

• have no individual owners.
• Are owned by local/national government
• on behalf of the community as a whole.
• Their main objective is to provide essential services or goods.
• The have no profit making motive

Private sector

• Are owned by private individuals or groups of private individuals.
• Their main objective is to make profit.

To access more topics go to the Commerce Notes page.