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Title: INTRODUCTION TO BUSINESS STUDIES
Description: This is the first in a series of notes on Business Studies. The notes are precise, simplified and to the point and easy to understand. They are suitable for secondary school students taking business studies/commerce course. They are also of immense benefit to business and non business students in tertiary institutions where business studies units are part of their course requirements. They are also useful for general readership.
Description: This is the first in a series of notes on Business Studies. The notes are precise, simplified and to the point and easy to understand. They are suitable for secondary school students taking business studies/commerce course. They are also of immense benefit to business and non business students in tertiary institutions where business studies units are part of their course requirements. They are also useful for general readership.
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INTRODUCTION TO BUSINESS
i
STUDIES
Objectives: By the end of the topic, the learner should be able to:
Explain the meaning of Business studies
Explain the importance of Business studies in society
MEANING OF BUSINESS STUDIES
Business: This is any activity that is carried out by an individual or an
organization concerning provision of goods and services with a view to making
profit
...
Production: Refers to the creation of goods and services
...
g
...
Distribution: Refers to the movement of goods and services from producers
to the consumers - e
...
through buying and selling, transporting, storing,
insuring e
...
c
...
Those who use up goods and services are called consumers
...
Commerce
b
...
Economics
d
...
Entrepreneurship
Commerce
This is the study of trade and aids to trade
...
Aids to trade are human activities (services) that assist trade to take place e
...
transport, banking, warehousing and communication
...
1
Accounting
This refers to a systematic way of recording business activities which are used for
decision making
...
g
...
t
...
The person who carries out these activities is referred to as an entrepreneur
...
Assists the learner to relate the knowledge, skills and attitudes acquired to
ii
...
g
...
Provides basic knowledge for further studies in the same subject or even in
iv
...
the day to day business activities around them
...
t
...
other subjects
...
Assists the learner in appreciating the role of business in the provision of
goods and services
...
Assists the learner to develop ability for inquiry, critical thinking and
vii
...
Assists the learner to acquire self-discipline and positive attitude towards
ix
...
business management
...
Equips individuals with abilities to promote co-operation in society through
trade
...
Enables the learner to understand the role of Government in relation to
xi
...
information technology in modern business management
...
xiii
...
xv
...
Helps the learner to develop positive attitudes towards the environment
...
Enables the learner appreciate the basic economic issues in society
...
Enables the learner appreciate the role of market forces in determining the
prices of goods and services
...
This is the first in a series of notes
...
II
...
Key points are highlighted in yellow colour
...
Any queries will be
addressed promptly
...
The next set is on “Business and its environment”
Title: INTRODUCTION TO BUSINESS STUDIES
Description: This is the first in a series of notes on Business Studies. The notes are precise, simplified and to the point and easy to understand. They are suitable for secondary school students taking business studies/commerce course. They are also of immense benefit to business and non business students in tertiary institutions where business studies units are part of their course requirements. They are also useful for general readership.
Description: This is the first in a series of notes on Business Studies. The notes are precise, simplified and to the point and easy to understand. They are suitable for secondary school students taking business studies/commerce course. They are also of immense benefit to business and non business students in tertiary institutions where business studies units are part of their course requirements. They are also useful for general readership.