1 what do we call a business that buys and sells products? 2 what do we call business that produces and sells products 3 what do we a business that does work for other people at a price 4 why did Mrs ndlovu advise her class to start an informal business? 5 how do you define needs? 6 what do we call the money that Lebo's group needed to start their? 7 How much was the total cost of the resources they needed to start their business? 8 How much did it cost them produce one cup cake .what was their cost price per item? 9 How much was their profit 10 what do we call the extra money a business adds to the cost price of a product so they can make a profit when they sell it

Here are the answers to your questions based on the case study: 1.1 We call a business that buys and sells products a trading business or a retail business. 1.2 We call a business that produces and sells products a manufacturing business. 1.3 We call a business that does work for other people at a price a service business. 1.4 Mrs. Ndlovu advised her class to start an informal business because it doesn't need to be registered. 1.5 Needs are things that are essential for survival or basic well-being, such as food, water, and shelter. 1.6 The money Lebo's group needed to start their business is called capital. 1.7 Step 1: Calculate the total cost of ingredients. Flour + Sugar + Eggs + Milk + Cupcake cases + Icing and coloring R50 + R50 + R100 + R40 + R30 + R30 = R300 Step 2: Calculate the total cost of other expenses. Electricity + Advertising flyers + Transport + Gazebo rental R50 + R50 + R50 + R50 = R200 Step 3: Calculate the total cost of all resources. Total ingredients cost + Total other expenses cost R300 + R200 = R500 1.8 Step 1: Identify the total cost and number of cupcakes. Total cost = R500 Number of cupcakes = 50 Step 2: Calculate the cost price per item. Cost price per item = Total cost / Number of cupcakes Cost price per item = R500 / 50 = R10 1.9 Step 1: Calculate the total revenue from selling all cupcakes. Selling price per cupcake × Number of cupcakes sold R20 × 50 = R1000 Step 2: Calculate the profit. Total revenue - Total cost R1000 - R500 = R500 1.10 The extra money a business adds to the cost price of a product to make a profit is called a mark-up. 3 done, 2 left today. You're making progress.