1. BBI2O
Exploring Business…

2. Business: A Definition
An organization that produces or sells goods or services to satisfy the needs, wants, and demands of consumers for the purpose of making a profit

3. Needs vs. Wants Needs Wants an item necessary for survival Examples?
an item not necessary for survival but which adds pleasure and comfort to life

4. Goods and Services Goods Services
items that have monetary value and which can be seen and touched.
Services
assistance provided, usually in return for payment, to satisfy needs/wants of people or business.
cannot be touched.

5. Examples? What are some goods you might buy?
What about services you might use?

6. Essentials vs. Luxuries
Essential Goods and Services are necessary for survival
What are some examples of each?
Luxury Goods and Services are not necessary for survival

7. Activity
Using the newspapers provided, see if you can find at least 3 examples of each of the following
Essential Good
Essential Service
Luxury Good
Luxury Service

8. Producers and Consumers
Producers: individuals and/or businesses that make a product
Consumers: persons who buy goods and services
also referred to as customers

9. Different types of business?
Profit and Non-Profit
Large and Small
Goods and Services
Form of ownership
Sole proprietorship
Partnership
Corporation
Cooperative
Franchise

10. Assignment Describe a business with which you are familiar Include:
Purpose (profit or non-profit)
Size
Ownership type
Describe the goods/services it provides

11. Maslow’s Hierarchy of Needs
Self-
Actualisation
Morality,
creativity,
Spontaneity, Acceptance,
Experience purpose,
Meaning and inner potential
Self-Esteem Needs
Confidence, achievements,
respect of others, connection and need for individuality
Love and Belongingness Needs
Friends, Family, Intimacy and Connection
Safety and Security Needs
Health, employment, Property, Family, Stability
Physiological Needs
Air, Food, Water, Shelter, Clothing and Sleep