how does the business world work?

Question

i would like to know how the business world thrives and how it is today....because i want to know its interworkings...i have an interest in it...but i dnt have any idea wat i'm looking at(like i guess Cnn money) or how things work.....

Answer 1

The business world is driven by Supply and Demand and competition.

Customers demand a certain product or service and then a company will supply it. If they demand is great enough it will attract other companies who want to supply it as well.

Then the supplying companies will then compete against each other by offering differing products or by trying to offer the lowest price.

Look at cell phones for instance. There is a demand. There are dozens of companies that produce products to meet that demand. Now there are many different models of phones at varying prices. From phones the service provider will give away free to phones that cost around $500. Different consumers will demand different variations of the product that either meets their needs or fits within their price range.

Hope that is helpful to you.

Answer 2

This is not a simple answer. I think that the best way to learn would be to speak with retired business professionals like the ones at www.score.org and ask them specific questions about the type of business you are interested in.

basically, Businesses want to make money by selling a product or service to its target client.