What is national saving? What is private saving? What is public saving? How are these three variables related?
Contemporary Business Chapter 1 A business is a profit-seeking organization that provides goods and services designed to satisfy customers’ needs. Businesses add value for customers by transforming lower-value inputs into higher-value inputs o 1. Businesses seek a competitive advantage that makes its products more appealing than those of its competitors o 2. Businesses make decisions involving some risk in anticipation of receiving future rewards A company’s business model is an outline of how the business intends to generate revenue (money received through the sale of goods and services) If revenue exceeds expenses, the business makes a profit Revenue -Money a company bring