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Define a Resource, Environment, and Want

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←View All Business Studies Questions!


Define a Resource, Environment, and Want

Question

Briefly explain the meaning of the following terminologies as used in business

a) Resource
b) Environment
c) Want

Answer

a) Resource - Something that can be used to achieve objectives
b) Environment - Conditions/ factors that affect business operations
c) Want - Desires that people strive to satisfy from resources.


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