Which term describes an organisation that uses resources to meet the needs of customers by providing a product or service they demand?

Which term describes an organisation that uses resources to meet the needs of customers by providing a product or service they demand?

• A. Service
• B. Business
• C. Enterprise
• D. Public Sector

Answer: (B)

This describes a business. A business is an organization that uses resources—like land, labour, capital, and enterprise—to produce goods or services that meet what customers want or demand. The goal is to satisfy those needs and usually to earn a profit for the owners. The word “service” refers to the type of output, not the organization itself. The public sector covers government or state-run bodies that often deliver services rather than operate for profit. Enterprise is a term tied to the initiative or venture of starting a business, but the label for the organization doing the producing is best captured by “business.”

This describes a business. A business is an organization that uses resources—like land, labour, capital, and enterprise—to produce goods or services that meet what customers want or demand. The goal is to satisfy those needs and usually to earn a profit for the owners. The word “service” refers to the type of output, not the organization itself. The public sector covers government or state-run bodies that often deliver services rather than operate for profit. Enterprise is a term tied to the initiative or venture of starting a business, but the label for the organization doing the producing is best captured by “business.”