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1.1 Nature of business activity - notes

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This section looks at the nature of business activity, what a business does and how it does it. It examines the functions/departments of a business and the inputs used to create goods and services.

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By the end of this section you should be able to:

  • Identify inputs, outputs and processes of a business
  • Describe the various business functions and explain their role
  • Explain the nature of business activity in different sectors: primary, secondary and tertiary

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  • Analyse the impact of changes in economic structure on business activity