These are goods produced by a business. Sometime we want a haircut, a piano lesson or a ride on a Ferris wheel. These are services provided by a business. Businesses do not have enough materials, enough workers or enough tools to make everything we want. Businesses must decide what to make and how to build the items we desire.
Businesses buy materials and machines.
They hire workers. Every business has a leader, or entrepreneur , to make decisions. The entrepreneur has an idea of what items people want and what resources to use to make them. Each individual owner uses personal savings to buy the items needed by the business. The individual owner will have lots of work to do, but he or she will get to keep all the profits.