Good and Service

• Private sector business organisations


  Owned by individuals or groups of individuals
• Public sector business organisations

  Owned by central or local government
• Businesses exist to

  Provide goods and services
• Private enterprise


  Most businesses are owned privately by individuals or groups of individuals, they are private sector businesses, the objective is often to make money - a profit for the owners
• Social enterprise


  Some organisations in the private sector are non-profit making, such as charities, pressure groups, clubs and societies, they exist for reasons other than profit
• Public enterprise


  Some goods and services are provided by organisations owned by central or local government, these are public sector organisations, the main purpose is to provide the goods and services that private enterprise fails to provide adequately
• The main aim of any business is to maximise profit, which means making as much revenue as possible while keeping costs low.
• A business is an organisation that aims to make money by providing goods or services