Study Business Studies notes on Introduction to Business Studies for Form 1. Useful for revision, homework, and exam preparation in Zimbabwe.
A free account is needed to download. Sign in or create one
This is the Business Studies notes. It is a free notes for revision.
BUSINESS STUDIES FORM ONE NOTES INTRODUCTION TO BUSINESS STUDIES Objectives: By the end of the topic, the learner should be able to: i) Explain the meaning of Business studies ii) Explain the importance of Business studies in society. i) Business: Any activity that is carried out by an individual or an organization concerning provision of goods and services with a view to making profit. ii) Business studies: Is the study/examination of the business activities in society. These activities are related to the production of goods and provision of services. -It can also be defined as the study of activities that are carried out in and around production, distribution and consumption of goods and services. iii) Goods: These are items that are tangible .i.e. they can be touched and felt. Activity 1: The students to list items in the classroom that can be touched and felt -Furniture, buildings, books, vehicles e.t.c iv) Services: These are efforts or acts/actions or activities that may be sold and are intangible (cannot be touched nor felt). Activity 2: The students to list items that money is paid to get but they cannot touch. v) Production: Refers to the creation of goods and services or increasing their usefulness through activities such as transporting them to where they are required. People who are involved in production of goods and services are referred to as producers. Activity 3: Using the lists of goods and services above, the students to name those involved in their production. vi) Distribution: Refers to the movement of goods and services from producers to the users. Some activities that take place as goods and services all moved include transportation, storage, insurance, communication, advertising.e.t.c vii) Consumption: Refers to the act of using the goods or services produced