The Business Environment

Main Topics of Study:

The Nature of Business Activity

  • What is business activity?
  • Enterprise and the entrepreneur
  • Enterprise and the factors of production
  • What entrepreneurs do

The Environment in which Businesses Operate

  • Business environment
  • Law
  • The economic environment of business
  • Scarcity and choice
  • Cost and opportunity cost

The Objectives of Business

  • Profits and survival
  • Profits and expansion
  • Primary, secondary and tertiary production
  • Private sector activity
  • Public sector activity
  • The interdependence of businesses

Money and Business Activity

  • The nature of money
  • The qualities of money
  • Wants and economies
  • Money and economies

F