first, production is the creation of services or the changing of materials into product. one example is the conversion of iron ore into metal car parts. next these products need to be moved from the factory to the marketplace. this is known as distribution. A car might be moved from a factory in Detroit to a car dealership in Miami.
1. What is the main idea of paragraph 1?
The main idea of paragraph 1 is a definition of business is the production,distribution,and sale of goods and services for a profit
2. How does the modern meaning of business differ from traditional one?
The concepts and activities of business have increased in modern time. Traditionaly, business simply meant exchange or trade for things people wanted or needed.
3. What is the main idea of paragraph 2 ?
Definition of Production and distribution of car
4. What is ‘Production’?
Production is the creation of services or the changing of materials into products.
5. What is distribution ?
Product need to be moved from the factory to the marketplace
6. How do goods differ from service ?
Goods are products which people either need or want.Services,on the other hand,are activities which a person or group performs for another person or organization
7. What is ‘Sale?
Sale is the exchange of a product or service for money.
8. How many factors are there in bsiness ? what are they ?
3, Production, distribution and sale
9. What is profit ?
Profit is the money that remains after all the expenses are paid
10. What is the primary goal of business activity ?
Creating an economic surplus or profit