The Purpose And Nature Of Business Activity:
Bayani Gaba-gaba
Every business, from a roadside stall to a global airline, exists for one reason: people have endless wants but the world has only limited resources. That single tension, scarcity, forces choices, and every choice carries a hidden cost. Understanding this is the foundation of the whole course.
In this lesson you will meet the ideas that underpin all of business studies: needs and wants, scarcity and opportunity cost, the power of specialisation, and the purpose of business activity itself. You will also learn what added value is, why it is the lifeblood of every business, and the practical ways a firm can increase it.
Manufura
- Concepts of needs, wants, scarcity and opportunity cost
- Importance of specialisation
- Purpose of business activity
- The concept of adding value and how added value can be increased
Takardar Darasi
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- Which of the following is a need rather than a want? A. a smartphone B. clean drinking water C. a holiday D. designer trainers Answer: B
- A firm sells a product for $90. Bought-in materials cost $35. The added value is: A. $35 B. $55 C. $90 D. $125 Answer: B
- Opportunity cost is best defined as: A. the money a business spends in total B. the next best alternative given up C. the cost of raw materials D. the profit a business makes Answer: B
- Which is a disadvantage of the division of labour? A. workers become more skilled B. training is cheaper C. work can become boring and repetitive D. less time is wasted moving between tasks Answer: C
- A business can increase added value by: A. raising material costs B. lowering the selling price C. reducing material costs while keeping the price the same D. employing more managers Answer: C
Akwai a cikin manhajar Green Bridge
Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
Akwai a cikin manhajar Green Bridge
Zazzage manhajar Green Bridge CBT a wayar ka ko kwamfyuta ka don samun cikakkiyar bayanan darasi, tambayoyin aiki, da ƙari.
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