The Importance of Operation ■■■■■■ ■■■■■■ ■■■■ 目■■■■■■■■ Availability of goods and services Satisfying customer needs by providing goods and services Economic well-being(living standards GDP: market value of goods and services produced Profitability(efficiency) Profit sales revenue-costs costs: money spent on resources 88 The Importance of Operation ▪ Availability of goods and services ▪ Satisfying customer needs by providing goods and services ▪ Economic well-being (living standards) ▪ GDP: market value of goods and services produced ▪ Profitability (efficiency) ▪ Profit = sales revenue – costs ▪ costs: money spent on resources