GoodsThese are items or things that are tangible in that they can be touched and felt.ServicesThese are actions or activities that may be sold and they are intangible.ProductionThis is the Creation of goods and services or increasing their usefulness through activities such as transporting them to where it is required. People who produce goods and services are called producers.Distribution This is the movement of goods and services from producers to the users. Activities taking place during distribution.
ConsumptionThis is the usage of goods and services. Those who use the goods are called consumers.EconomicsThis is the study of how human beings strive to satisfy their endless wants using the available scares resources.CommerceThis is the study of trade and aids to trade. Aids to trade are human activities or services that assist trade to take place such as transport, banking, warehousing and communications.AccountingThis refers to a systematic way of recording business activities which are used for decision making.Office PracticeThis refers to all the activities that are carried out in an office. For example, communication, filing, reproduction of documents and clerical work.EntrepreneurshipThis is the study of the activities involved in the process of identifying a business opportunity and acquiring the necessary resources to start and run a business.Importance of business studies in society
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Business Studies Notes Form 1 - 4![]()
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November 2022
AuthorAtika School Team |