Question 1

The profit motive encourages the production of quality products that truly meet the needs of consumers. This is the the money that is left after all expense have been deducted from the income. The competition it is good for consumers because it provide choices.it forces companies to improve quality and becomes more efficient, and it leads to a surplus,which brings prices down
Question 2

Business compete on the basic of price and non price factors. in a mature industry as electronic, prices is a factor and the focus is on lowering prices. Prices and non price factors as a major influence on business. This helps the business to get items at a lower rate.

Question 3

A need is a basic requirement for survival that people want. A want is something that you do not have to have for survival, but would like to have


Question 4

The relationship between supply and demand and cost and profit. From reading the passage i have notice that supply and demand and cost and profit has a lot to do with each other. supply and demand as a lot  to do with the amount and how much of the product is being sell to the costumer. It also deals with the cost of the product and for the costumer to see if they can make a profit out of the deal.

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