The purpose and nature of businesses exam tips

Business purpose, goods and services exam tip 1

Use precise subject-specific vocabulary when you explain how to explain what a business is and why businesses may start, including producing goods, supplying services, distributing products, fulfilling opportunities and benefiting others..

This keeps your answer tightly aligned to the approved learning objective for Business purpose, goods and services.

Business purpose, goods and services exam tip 1

Use precise subject-specific vocabulary when you explain how to distinguish goods from services and needs from wants in business contexts..

This keeps your answer tightly aligned to the approved learning objective for Business purpose, goods and services.

Business purpose, goods and services exam tip 1

Use precise subject-specific vocabulary when you explain how to define opportunity cost and apply it to business choices..

This keeps your answer tightly aligned to the approved learning objective for Business purpose, goods and services.

Factors of production and business sectors exam tip 1

Use precise subject-specific vocabulary when you explain how to explain the four factors of production: land, labour, capital and enterprise..

This keeps your answer tightly aligned to the approved learning objective for Factors of production and business sectors.

Factors of production and business sectors exam tip 1

Use precise subject-specific vocabulary when you explain how to define the primary, secondary and tertiary sectors..

This keeps your answer tightly aligned to the approved learning objective for Factors of production and business sectors.

Factors of production and business sectors exam tip 1

Use precise subject-specific vocabulary when you explain how to give business examples that operate in each sector..

This keeps your answer tightly aligned to the approved learning objective for Factors of production and business sectors.

Enterprise and entrepreneurship exam tip 1

Use precise subject-specific vocabulary when you explain how to explain the meaning of enterprise and entrepreneur..

This keeps your answer tightly aligned to the approved learning objective for Enterprise and entrepreneurship.

Enterprise and entrepreneurship exam tip 1

Use precise subject-specific vocabulary when you explain how to outline entrepreneur characteristics such as hard work, innovation, organisation and willingness to take risks..

This keeps your answer tightly aligned to the approved learning objective for Enterprise and entrepreneurship.

Enterprise and entrepreneurship exam tip 1

Use precise subject-specific vocabulary when you explain how to outline entrepreneur objectives including independence, flexible working, pursuing interests, earning more money, identifying a market gap and dissatisfaction with employment..

This keeps your answer tightly aligned to the approved learning objective for Enterprise and entrepreneurship.

Dynamic nature of business exam tip 1

Use precise subject-specific vocabulary when you explain how to explain why the business environment changes over time..

This keeps your answer tightly aligned to the approved learning objective for Dynamic nature of business.

Dynamic nature of business exam tip 1

Use precise subject-specific vocabulary when you explain how to explain how technology, the economic situation, legislation and environmental expectations can affect business activity..

This keeps your answer tightly aligned to the approved learning objective for Dynamic nature of business.