WAEC Commerce 1992 Question 10

Question 10

Business Units

Which of the following is the primary purpose of a business concern? To

  1. A.make maximum profit for itself and the shareholders
  2. B.provide goods and services to customers at a profit for itself and shareholders
  3. C.supply essential commodities at a profit
  4. D.make goods and services available to the poor at a profit
  5. E.ensure even development of a country
Show the answer and explanation

Answer: B (provide goods and services to customers at a profit for itself and shareholders)

Explanation

A business exists to satisfy customers' wants with goods and services and earn a profit for its owners in doing so.