Chapter 1: The Role of Business

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  • Chapter 1: The Role of Business
    • Outputs
      • Finished products made from inputs
      • Goods
      • Services
      • The needs and wants of customers
    • Inputs
      • Raw Materials
      • Labour
      • Money
      • Owners/directors
    • Functions of a Business
      • Human Resource Management
      • Marketing
      • Finance
      • Production
      • Other functions
        • An employer
        • Source of Revenue
        • Helping balance of payment
    • What is produced?
      • Consumer durable goods
        • A product that can be used more than once
      • Consumer non-durable goods
        • A product that can only be used once
    • Adding Value
      • What a business achieves by ensuring that the price of the finished good or service is in excess of the cost of the inputs
  • Raw materials requires to produce goods
    • Inputs
      • Raw Materials
      • Labour
      • Money
      • Owners/directors
  • Goods
  • Services
  • The needs and wants of customers
  • Functions of a Business
    • Human Resource Management
    • Marketing
    • Finance
    • Production
    • Other functions
      • An employer
      • Source of Revenue
      • Helping balance of payment
  • What is produced?
    • Consumer durable goods
      • A product that can be used more than once
    • Consumer non-durable goods
      • A product that can only be used once
  • Adding Value
    • What a business achieves by ensuring that the price of the finished good or service is in excess of the cost of the inputs

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