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Complete Business Studies For Cambridge IGCSE PDF
Complete Business Studies For Cambridge IGCSE PDF
New
for 2011
Help your students achieve the
best possible results in Business Studies
Complete
Business Studies
for Cambridge IGCSE & O Level
Brian Titley
The most forward-thinking and rigorous approach
for the modern Business Studies classroom
2
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Complet
coverage e
of t
most rec he
A comprehensive and thorough approach which ent
Cambrid
ge IGCSE
and O Le
will challenge your students and get the best results syllabus
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es
1.2 The organization 1.2.1 Business objectives and their importance services) are outputs from productive activity.
1.2.2 Stakeholders and their differing objectives Business activity adds value to resources by using them to produce goods
unit ahead
{
1.2.3 Aims of private and public sector enterprises and services that are more desirable to consumers.
1.3 The changing business 1.3.1 Government influence over decision making
{ Firms owned by private individuals are private enterprises. Most firms aim
environment by using economic policy measures to make a profit but some, like charities, engage in non-profit making
activities.
1.3.2 Impact of technology on business
{ Some business organizations are owned and controlled by government
1.3.3 Business reaction to market changes authorities. These are public enterprises. Many provide public services.
1.4 Economic environment 1.4.1 Mixed and market economies
1.4.2 International trade (access to markets and
tariffs) Consumers – people and organizations Opportunity cost – the benefit lost by Business buzzwords
1.4.3 Problems entering new markets abroad who are willing and able to buy goods not consuming or producing the next best
and services. alternative product.
1.4.4 Competition and business
Consumption – the using up of goods Wages and salaries – payments made by
1.4.5 Exchange rates and how changes in them and services to satisfy consumer needs firms to employees to use their labour for
affect business and wants. productive activity.
Tricky vocabulary is
Assessment exercises • Suggestions for coursework Production – using resources to make Customers – consumers who buy goods
• Examination questions goods and services to satisfy consumer
needs and wants.
or services from business organizations.
clearly defined in advance,
Revenue – proceeds from the sale of
Factors of production – productive
resources used to make goods and
goods and services to customers. helping language-learners to
Profit – a surplus of revenue over costs of
services.
Firms – organizations that produce goods
production. focus on the subject material
Value added – the difference between
and services.
the price of a product and the cost of
Entrepreneur – a person with the know- the natural and man-made materials,
how and willingness to take the risks and components and resources used to make it.
rcises an highlighted, Businesses are organized according to how they are From the article identify and list the main features, advantages and disadvantages of a sole trader business.
d
owned, controlled and financed
revision with a glossary
notes are
From the last section you will recall there are a number of different types of
to ensure
business organization in the private sector of an economy. They vary
Pop in for something
included according to:
Bitesize
on a free concepts
CD-ROM
for extra
Customers of Bitesize, the new sandwich and coffee bar in
are fully the town, can look forward to good food and a personal,
flexibilit
friendly service, according to owner Saabira Rahman.
understood who owns how it is how it is the owners’ She was busy preparing fresh sandwiches, snacks and lots
ion
.seitrap dna snoitcnuf ssenisub rof oot saw ereht dias yehT .yenom yna em dnel t’ndluow
Make revis e.
corporations started out as sole traders many years ago.
’.ksir ta eb dluoc ssenisub ym dna noititepmoc hcum
Most sole traders finance their business from their personal Advantages of a sole trader Disadvantages of a sole trader
savings, borrowing from friends and family or from a bank loan.
ctiv
+ Businesses operating as sole traders - The owner has full responsibility
ips
business registration. very long hours and going without
Revision t long
down within their first few years of operation. holidays.
+ These businesses can often be set up
Modern technology has reduced the cost of starting up a new with little capital. - The business may lose revenues and
d ,a
small business. Many sole traders can operate their businesses profits if the owner is off sick or
integrate
+ The owner is his or her own boss and
from home thanks to the Internet and mobile communications has full control over the business. on holiday and cannot manage the
l answers
which allows them to keep in contact with customers and business.
+ The owner receives all profits after
suppliers. However, in the event of business failure the sole trader will be
to demons y
+ Personal contact with customers can
increase customers’ loyalty. new equipment or to expand.
+ Separate accounts are not required - Sole traders often lack all the skills
lit
exam-qua
for the business. they need to run their businesses
successfully.
.
respo s e
7
s
6 Business structure, organization and control Ownership and internal organization
n
Concepts are fully explored and broken
down into manageable segments which are easier for students to absorb
K37673