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business - Coggle Diagram
business
Why do you set up a business?
to make a profit
to be their own boss
to provide a service
To fill a gap in a market
to fill a gap in the market
to develop a hobby
because they have the required skills
because they were made redundant or don't like their current job
Factors of production
Land
Enterprise
Capital
Labour
Business
an individual or organisation that makes goods or provides services.
Needs
required by individuals to survive.
Services
provided by businesses but cannot be seen or touched
Wants
items that an individual would like to have but do not require for survival
Goods
physical products that can be seen or touched.
Specialization