Businesses have the same objectives

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To make a profit
Be biggest in their market
Provide high quality service
Maximise profit cheap products
Maintaining market share
Expand business
Limit environmental damage or satisfying customers

An economy has two sections Public and Private

Public Sector Owned by the government e.g.; the army, police
force, schools and hospitals. Public means they are owned by the
government for the benefit of everyone.
Private Sector Businesses owned by individuals most businesses
are in the private sector. They are run for the benefit of the people that
own them.

Types of Economy
Free Market Economy - This type of economy has no public sector;
everything is owned and provided by individuals. Only people that can
afford to be educated. The closest example to a free market
economy today is the USA.
Planned Economy This type of economy has no private sector. All
firms are owned by the government. Firms are not designed to make a
profit, so dont have an incentive to provide a high quality service. The
best example of a planned economy was the Soviet Union
before 1989.
Mixed Economy Most countries today have mixed economies they
have both a private and public sector. This means that in theory a
country can have the best of both worlds. The UK is an example of a
mixed economy.