Businesses exist to satisfy the ____ of customers. They provide goods and services at a ____ that people are willing to pay. In return, the business will be rewarded (hopefully) with ____. If there was no need for a ____, then there would be little point in a ____ producing it. If a product becomes very ____ and demand rises, other businesses might also want to make that product, ____ by the fact that there is the prospect of profit. Once an idea for a business exists, it can be ____. For example, Virgin first started as a mail order business selling records. The business ____ and developed to include air travel, which then developed further to include rail travel. This development has again changed with Virgin ____ the West Coast Mainline rail franchise. An ____ may also see an existing product and spot an opportunity to develop and ____ it. For example, Apple did not make the first mobile phone, but saw how it could be developed. On a much smaller scale, an entrepreneur could ____ that a particular location lacked quality restaurants. Opening a new, quality restaurant would hopefully ____ customer needs. In business, enterprise is seeing an ____ to provide a product or service that people are ____ to buy. For example, when it rains, street sellers will soon appear with umbrellas for sale. In other cases, this has led to small businesses growing into ____ operations making large profits for the owners. Larry Page and Sergey Brin started their business by meeting in a garage. That small start developed into Google. They spotted the ____ for a reliable search engine in the ____ computer market. Google is now developing interests in drone technology to make sure that the needs of the ____ are satisfied because businesses now see that speed of delivery is important for customers.

1.1 Why do businesses exist?

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