Business is an economic system in which goods and services are exchanged from one another or money.In order for a business to be successful, investment, sufficient number of customers, a good fundamental base would usually be the key to success.
Since the guiding question is ‘How do organizations respond ethically to the needs and wants of markets? ’, understanding what business is will help me answer it. Needs and wants are pretty much what makes business. Understanding how customers respond and what types of markets there are helps me understand the guiding question.