Business Stud
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BUSINESS STUDIES MIDTERM ASSESSMENT
BUSINESS: • LAND • LABOUR • CAPITAL • ENTERPRISE
LEVELS OF BUSINESS ACTIVITY PRIMARY: extracting raw materials SECONDARY: manufacturing goods (capital or consumer) from the raw materials TERTIARY: providing services to firms and consumers
Economic Structures: 1. Planned Economy: Controlled and managed by the govt. public
sector dominant 2. Free Market Economy: managed and controlled mainly by private entrepreneurs. Private sector dominant. 3. Mixed Economy: has both the private sector and the public sector
BUSINESS SIZE: Stakeholders of a business • Competitors • Shareholders • Customers • Employees • Government • Managers • Investors
BUSINESS: • LAND • LABOUR • CAPITAL • ENTERPRISE
LEVELS OF BUSINESS ACTIVITY PRIMARY: extracting raw materials SECONDARY: manufacturing goods (capital or consumer) from the raw materials TERTIARY: providing services to firms and consumers
Economic Structures: 1. Planned Economy: Controlled and managed by the govt. public
sector dominant 2. Free Market Economy: managed and controlled mainly by private entrepreneurs. Private sector dominant. 3. Mixed Economy: has both the private sector and the public sector
BUSINESS SIZE: Stakeholders of a business • Competitors • Shareholders • Customers • Employees • Government • Managers • Investors
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