How business responds to the needs and wants in the community and be responsible the society?


Mind Map on How business responds to the needs and wants in the community and be responsible the society?, created by carrietsai on 11/04/2013.
Mind Map by carrietsai, updated more than 1 year ago
Created by carrietsai over 9 years ago

Resource summary

How business responds to the needs and wants in the community and be responsible the society?
  1. What is Business?
    1. A decision-making organization involved in the process of using inputs to produce goods and/or services.
    2. Needs and Wants
      1. Businesses respond to the conditions of the marketplace
        1. Needs
          1. Something that you can't live without
            1. Food
              1. Air
            2. Wants
              1. Something that you desire
                1. iPhone
                  1. Luxury
              2. Chain of Production
                1. Classification of 4 sectors
                  1. Primary Sector
                    1. Raw materials
                    2. Secondary Sector
                      1. Generate raw materials to manufacture products
                      2. Tertiary Sector
                        1. Transportation and Service
                        2. Quaternary Sector
                          1. Advertisment
                      3. Industry Assiocation
                        1. Industry
                          1. Firms that give out similar products or services
                          2. Assiocation
                            1. Industries that shares common interest
                            2. Advantages
                              1. Share and trade information
                                1. Having connection with other companies
                              2. Starting a buisness
                                1. Purpose
                                  1. Challenences
                                    1. Business Sectors
                                      1. Key to sucessed
                                      2. Ownership
                                        1. Sole Partnership
                                          1. owned by a single person
                                            1. Commonly use in business
                                            2. Partnership
                                              1. 2 or more owner
                                                1. increase person liability
                                                2. Coporation
                                                  1. Private Limited Company
                                                    1. Public Limited Company
                                                  2. Ecomonics
                                                    1. Surplus
                                                      1. Quantity demanded < Quantity supplied
                                                      2. Shortage
                                                        1. Quantity demanded > Quantity supplied
                                                        2. Demand
                                                          1. amount of products or service that buyers could buy
                                                            1. Law of demand = any factors constant
                                                            2. Supply
                                                              1. Law of supply = any factors constant
                                                                1. Price increase = supply increase
                                                                2. Equilibrium point
                                                                  1. The demand and supply curve intersect
                                                                    1. Quantity demanded
                                                                      1. level of demand at a certain price
                                                                      2. Quantity supplied
                                                                        1. Level of supply at a certain price
                                                                    2. Ecomonic Shock
                                                                      1. Supply curve to shift
                                                                        1. Environmental Issues
                                                                          1. Cost of inputs
                                                                          2. Demand curve to shift
                                                                            1. Market Size
                                                                              1. Consumer income
                                                                          Show full summary Hide full summary


                                                                          Jo - A Taste of Honey. Character/Traits and quotes
                                                                          Francesca Floris
                                                                          Rights and Responsibilities
                                                                          AS-Level Chemistry: Unit 1:The Atom
                                                                          Daena Targaryen
                                                                          B1.2: Responses to a changing environment
                                                                          GCSE AQA Chemistry Atomic Structure and Bonding
                                                                          GCSE Core Chemistry Yr 9
                                                                          NSI FINAL TEST
                                                                          brahim matrix
                                                                          Science Revision - Year 10
                                                                          Caitlin Kumala
                                                                          Body Systems Revision
                                                                          D Arora
                                                                          Les Aliments
                                                                          dAnn dAnn