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ZIMSEC O Level Commerce: 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.