TOPIC 1: NATURE OF BUSINESS
Role of Business
The nature of business
- producing goods and services
- profit, employment, incomes, choice, innovation, entrepreneurship and risk, wealth and quality of life
TASK: Play the Lemonade Stand game for at least an hour (needs Adobe Flash).
- Think about what you learned as a result of playing this game
- Think about how the lemonade stand could expand and improve
TASK: Take the Entrepreneurship Test to find out if you have what it takes to start a new business.
READ: What are goods and services? (tutor2u)
TASK: Locate a newspaper article about businesses. Identify how the article relates to one or more of the following terms:
- entrepreneurship and risk
- wealth and quality of life
TASK: Start a GLOSSARY to keep track of the key terms in the Business Studies course (including all the terms in the above task).