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Complete form one Business Studies notes prepared by professional business studies subject teachers. The notes are suitable for both teachers and students. You can also download the notes directly.
Business Studies Notes Form One. Business — refers to any activity that is carried out by an individual or an organization concerned with provision of goods and services with the aim of making profits. TSC Ends — Promotion of P1 Graduates to High Schools. SCIENCE MNEMONICS, cheap junior cert exam papers. Business studies — it is the study of the activities that are carried out in and around production, distribution and consumption of goods and services.
Business environment — these are the business surroundings which may be internal or external. Goods — These are items which are cheap junior cert exam papers i. can be touched and felt e. furniture, buildings, bread. Services — These are actions or activities that may be sold.
They are intangible e. teaching, banking, hairdressing etc. Production — It is the creation of goods and services or increasing their usefulness. Its done by producers e. Involves transport, communication etc. Free Business Studies Notes Form 2. Business Studies Revision Questions and Answers, cheap junior cert exam papers. dOWNLOAD END TERM 1 EXAMS FORM 1 2 3 4.
How to Check Form One Selection Results, and Download Admission Letters. KCSE Results Release on Monday, Maths, Chemistry Theory Poorly Performed. The main purpose of a business is to make profits. To achieve this, cheap junior cert exam papers business needs to.
Business environments and their effects. Internal and external. Internal environment. They include This is the formal arrangement of the activities carried out at various levels of the organization. A well laid business structure would lead to success because A resource is something that can be used to achieve an objective. The following are some of the resources to a business. Employees in a business provide human resource.
A business with qualified human resource is more likely to do well. A business with adequate finances is more likely to do better than one lacking such aspects. These are tangible facilities which belong to a business e. buildings, machinery, furniture and stock. These are the skills and methods used in production. A business with the relevant technology is more likely to succeed. Business cultures arise from the combination of employees expectations, beliefs and values within the business.
A culture of involving employees in decision making always does better. He provides finances and makes decisions concerning operations of the business. External Business Environment. They include g charges, taxes, rates etc. The government closely monitors and passes laws and policies to regulate activities. Traders may opt to invest in some areas because of lower taxes or nor taxes. Manufactures of foodstuffs are required to include expiry dates to their goods.
Political stability also creates a conducive working business environment, cheap junior cert exam papers. Technology refers to level of know-how, efficient use of tools and equipments and other resources. Advancement in technology would lead to better quality of goods being produced.
Culture is the norms that regulate the behavior of people in society. Includes customs, beliefs and values. Dictates how people live and products they consume e. Muslims and pork, cheap junior cert exam papers. Firms trying to outdo each other in their endeavors to maximize profits. Competition can ether be generic or enterprise. Generic competition refers to competition where the products are used for the same purpose though the products are different.
cinemas and discos are competing form of entertainment. Enterprise cheap junior cert exam papers is found were products are similar to those of the other firm. g a local shoe manufacturing company competing with imported shoes. Includes factors such as climate and infrastructure e. roads, water supply, electricity, banks etc, cheap junior cert exam papers. Goods and services. Goods can be categorized as follows.
Economic resources. Types of economic resources. Natural resources — Are gifts of nature e. land, natural forests, rivers, oceans and minerals. Artificial resources — Are man made resources e. machinery, tools, tarmac roads, dams, railways lines etc. Human resources — Refers to mental and or physical efforts rendered by people to organizations or to other human beings in producing goods and providing services e. nurses, teachers, painters, drivers. Economic resources can be divided into, cheap junior cert exam papers.
Renewable cheap junior cert exam papers are those whose supply can be restored and if not, creating goods and services is reduced and it may stop altogether. Non-renewable resources are those whose supply cannot be stored after use. Using these resources leads to their exhaustion sooner or latter.
Examp l e of renewable and non renewable resources. Non-renewable resources. Building stones. Hydro-electric power. Natural gas. Characteristics of economic resources. Scarcity, choice and opportunity cost. Form utility —this is changing the form of a commodity by converting raw materials to finished goods.
sugarcane may be converted into sugar Time Utility- this is created when a good is stored until it is appropriate time to use it. Example, storing food stuff in the school store during the holiday to use when the school opens. Place Utility — this is bridging the geographical gap between the producer of commodity and its consumers through transportation.
Example, transporting books from a bookshop to the school Possessive Utility -this refers to the transfer of ownership of good and services from one person to another it maybe done through trade. Example, ownership of bread may be transferred from a canteen owner to a consumer when the customer buys it.
Types of production Direct and Indirect Production Direct production subsistence production Is type of production from ones own personal consumption Characteristics of Direct Production. b Indirect production Production of goods and services for sale Characteristics of Indirect Production. Level of Production and Related Occupation Primary Level. Commercial services Activities either trade or consist trade to take place e.
g wholeselling,retailing,banking. Direct Personal Service Service rendered by individual direct to the consumer e. g nursing teaching and legal service. Characteristics of Land cheap junior cert exam papers a Factor of Production.
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