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GCSE Business · key term
The activities involved in producing and providing goods or services to meet customers’ needs and wants.
Used by OCR
Paper 1
Revise: Purpose of Business ActivityBusiness activity involves producing and providing goods or services that meet customers’ needs and wants. Goods are physical products, such as bicycles and T-shirts. Services are activities provided for someone, such as hairdressing or tourism.
Do not assume that all business activity aims to maximise profit: charities, not-for-profit organisations and public sector organisations also provide goods or services.
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