A : Dear friends, frist of all I wish you “ Good Morning”. This time we are going to continue our discussion about ‘Business’. Do you still remember, what is the meaning of ‘Business’?
B : Oh, sure I remember it very well ‘Business’, is production, distribution ans sale of goods and services for profit.
A : Excellent, your explanation is quite satisfactorily. Who knows what is meant by ‘Production’?
C : I know ma’am. ‘Production’ is the creation of goods and services or the changing of material into finished products. For example : the conversion of iron are into metal car parts.
A : Very good, and you, what do you mean by ‘Distribution’?
D : These metal car parts need to be moved from the factory to the market place. This is know as ‘Distribution’.
E : I quite agree with you, and next is the sale of goods and services. Who kknows? This is the most important part for every business?
F : I know. I’m marketing supervisor in the company. Sale is the exchange of a product or service for money. A car is sold to someone or customer in exchange of money.
B : I know the definition of profit. Profit is the money that activities production, distribution, and sale. But there is an important factor in business activity. This factor is the creation of profit or economic surplus.
C : Very good. Your definition of profit is exactly correct. But dear friends, we have talked for anether long time and afraid that we have to wait for the next lecture.
D : Oh yes. Look our lecture ia already standing in front of the door. Les’t greet her together, ‘Good Morning’, ma’am/all of students.
Lecture : Good Morning