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Business Studies Form 1 Notes - All topics combined

Institution: Secondary

Course: Business Studies

Content Category: Form 1 Notes

Posted By: muriujonah

Document Type: DOC

Number of Pages: 51

Price: KES 300
 
    

Views: 1447     Downloads: 2

Summary

Business Studies Form 1 Notes - All topics combined

CHAPTER ONE
INTRODUCTION TO BUSINESS STUDIES
Definition of terms used in business studies
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
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 tangible i.e. can be touched and felt e.g. furniture, buildings, bread. Etc
Services – These are actions or activities that may be sold. They are intangible e.g. teaching, banking, hairdressing etc
Production – It is the creation of goods and services or increasing their usefulness. Its done by producers e.g. farmers.


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