, Chapter 1 : What is a business activity
·
Goodse Physical products (e g .
phone , shoes
Services Non-physical products (e g car washing
·
>
-
.
output-Amount of goods/work produced by a person/machine/
·
factory
Resources used by business is often called the four factors of
production
Resources:
Human resources >
Employees managers
·
-
,
·
Financial resources >
-
Savings loans
,
Physical resources >
Buildings tools machines trucks
·
-
, , ,
·
Natural resources > wood -
External factors affect businesses like government laws , consumer needs
changes ,
actions of competitors
·
Consumer goods >
-
Goods/services sold to consumers
·
Producer goods >
-
Goods/services produced by one business for another
Private enterprise >
-
Owned privately by individuals or groups of inviduals or
&
groups of individuals
(private Sector
> Make profit for the owner
-
·
Social enterprise- > Non-profit making
>
Raise
money for good
-
causes
> E
g pressure groups, sports Club
-
.
·
Public enterprise >
-
Owned by Central or government
( public Sector)
>
They provide goods/services which the private sector fails
-
to offer
>
-
E
.
g health care , mail delivery
,
,
·
Goodse Physical products (e g .
phone , shoes
Services Non-physical products (e g car washing
·
>
-
.
output-Amount of goods/work produced by a person/machine/
·
factory
Resources used by business is often called the four factors of
production
Resources:
Human resources >
Employees managers
·
-
,
·
Financial resources >
-
Savings loans
,
Physical resources >
Buildings tools machines trucks
·
-
, , ,
·
Natural resources > wood -
External factors affect businesses like government laws , consumer needs
changes ,
actions of competitors
·
Consumer goods >
-
Goods/services sold to consumers
·
Producer goods >
-
Goods/services produced by one business for another
Private enterprise >
-
Owned privately by individuals or groups of inviduals or
&
groups of individuals
(private Sector
> Make profit for the owner
-
·
Social enterprise- > Non-profit making
>
Raise
money for good
-
causes
> E
g pressure groups, sports Club
-
.
·
Public enterprise >
-
Owned by Central or government
( public Sector)
>
They provide goods/services which the private sector fails
-
to offer
>
-
E
.
g health care , mail delivery
,
,
