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Business Studies Lesson1

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11 views12 pages

Business Studies Lesson1

Uploaded by

nooraafzali.grandeur
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Business Studies

(0450)
Lesson 1 : Business Activity
Objectives:
Needs, Wants, Scarcity and Opportunity costs.
The importance of specialisation to businesses
and consumers.
The purpose of business activity.
What is meant by ‘added value’
How a business adds value.
Introduction
The purpose and nature of business activity.

Example: knowledge,
Example Cars, breads, websites, apps
FACTORS OF PRODUCTION
SCARCITY

Example: Millions of Iphones

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