ZIMSEC O Level Commerce: Commerce Introduction to Businesses
- Business refers to:
- Activities carried out in order to make profit for example:
- manufacturing goods for sale.
- Providing services e.g. Hotels.
- Extracting minerals such as gold.
- Farming produce for sale.
- Business entities/organisations can be divided into two groups i.e. private and public sector businesses.
Public sector businesses
- have no individual owners.
- Are owned by local/national government
- on behalf of the community as a whole.
- Their main objective is to provide essential services or goods.
- The have no profit making motive
- Are owned by private individuals or groups of private individuals.
- Their main objective is to make profit.
To access more topics go to the Commerce Notes page.