What is
business
activity?
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An organisation that provides
goods and services
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Goods and services
Goods- physical products Services- non-physical products
Examples- a mobile phone, shoes, etc. Examples- banking, car washing, etc.
Goods and services
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Consumer goods and producer goods
Consumer goods- goods and services Producer goods – goods and services
solds to ordinary people (consumers) produced by one business for another
rather than businesses (eg-snacks) (eg-assembly parts)
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Goods and Goods and
Businesses
services services
Try to satisfy
Needs Wants
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What are needs??
• Basic requirements for human survival
• Examples
Foods, shelters, clothing, water
• If these needs cannot be satisfied, human
will die.
What are wants??
• People’s desires for goods and services
• Examples
Travelling, entertainment, a better house
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What are resources?
Something that can be used to get any
outcome/benefit.
Economists say such resources are
scarce.
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Business activity produces an
01
output.
Resources are used in
02
business activity.
A number of business
03
functions may be carried out.
External factors affect
04
business activities.
Businesses aim to make a
05
profit.
Customers consume goods
05
and services.
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Read case study
Pg- 4
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Read case study
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To make profits To get into community
To help other people and To ………………
environment
Read case study
Pg- 6
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All businesses operate in a
changing business
environment.
External factors are changing
over time.
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