1.1 Nature of business activity - notes
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.
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
- Analyse the impact of changes in economic structure on business activity