In this chapter, “Understanding Business Activity” we will cover the following main topics of 0450 Business Studies for IGCSE and 7115 O-Level Business Studies in detail. You can get IGCSE Revision Notes, Activities, Worksheets, Past Papers, Topical, Exam Style Questions from Sir Afzal Shad.
- Difference b/w needs and wants
- Economic Problem
- 4 Factors of Production
- Activity of Factors of Production
- Scarcity of Resources
- Opportunity Cost
Step 1: Watch Lecture of Chapter 1 Business Studies (Part 1)
Step 2: Solve Chapter 1 Business Studies Worksheet
Once you have watched the complete video (part 1) of Chapter 1 Business Studies, have a look at the questions below and try to solve them:[embeddoc url=”https://drive.google.com/file/d/1uw__LZ7CC8qtu5D4E2NYe4IkfGFnNfgJ/preview?usp=drive_web” height=”1000px” download=”all” viewer=”drive” ]
You can Download the Worksheet of Chapter 1 – Understanding Business Activity
Step 3: Understanding Business Activity Revision Notes
Chapter 1 Business Studies Revision Notes for IGCSE & O-Levels are written by Sir Afzal Shad. If you want to buy notes Online, please contact us
Why Business Studies Revision Notes by Sir Afzal Shad?
- 13 Years of Teaching Experience to IGCSE/O-Level Students
- To the Point and Cambridge Endorsed Definitions & Explanations
- Sample Questions from the Past Papers
- Activities / Case Studies included for Practice
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Needs, Wants, Difference b/w needs and wants, Economic Problem, 4 Factors of Production, Land, Labor, Capital, Enterprise, Activity of Factors of Production, Scarcity of Resources, Opportunity Cost.
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Topics Covered: Specialization, Division of Labour, Added Value, How to Increase Added Value.