AS Business Studies: Tramsforming Resources in to Goods and Services

Hey, here are some notes mainly for people taking the AQA AS Business Studies Unit 1 exam but can be used for other exams too. All the notes are based against the specification. I hope this helps you to revise! Please rate and comment on how to improve! :D

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  • Created by: I P B
  • Created on: 13-11-10 21:24
Preview of AS Business Studies: Tramsforming Resources in to Goods and Services

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Transforming Resources
into Goods and Services

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Transforming Resources into This topic should be considered
Goods and Services within the context of the
tertiary, secondary and primary
· inputs, outputs and the industries.
nature of the transformation of
resources into finished Products
· adding value.…read more

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Input = something that contributes to the production of a product or service
In order to make products and deliver services, a business needs resources ­ i.e.
inputs. These are known as the Four Factors of Production
Labour ­ the time and effort of people involved in the business: employees,
suppliers etc
Land ­ think of this as the natural resources that are used by the business ­ e.g.…read more

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The outputs of business activities are reflected in the products and services sold to
customers. It is quite useful to think of ways in which similar business activities can
be grouped based on those outputs. Economists and business examiners alike
have traditionally categorised the outputs from the transformation process into
these groups:
Primary sector = the extraction of resources at the first stage of production,
involving resources such as land and raw materials. Farming is the obvious
example.…read more

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Adding Value
Adding value = the difference in value between the price of the finished product
and the cost of materials used
How is value added?
­ Production ­ changing raw materials into products of use ­ e.g. wood, nails
and glue used to make a chair.
­ High quality manufacture ­ e.g.…read more

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Exam Tips
As the UK economy moves away from agriculture and low cost manufacturing and
towards services and niche manufacturing, the ability to add value increases.
Easier to add value at the tertiary stage than at the primary stage.…read more


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