Beforethe grading scheme varied between examination boards, but typically there were "pass" grades of 1 to 6 and "fail" grades of 7 to 9. However the grades were not displayed on certificates.
Business Aims[ edit ] A business gets started when somebody decides that they can earn a profit by making goods or providing a service and selling it to people who are willing to pay for it.
All businesses have the same main objective: A business must make a profit in order to survive.
If not, it will go bankrupt and have to close down. Businesses may have other secondary objectives they also wish to achieve, such as: To be the largest in their market. Provide the highest quality product possible. Maintain a high market share. Maintain a high customer satisfaction level.
Limit environmental damage they cause.
An economy has two sectors: The Public Sector The Gcse business studies sector includes everything that is owned by government. It includes things like the army, the police, and most schools and hospitals.
Public sector businesses do not exist to make a profit. They exist for the benefit of everyone. The Private Sector The private sector includes everything that is owned by private individuals. Most businesses are in the private sector. Private sector businesses exist to make a profit.
They are run for the benefit of the people who own them. Needs and Wants[ edit ] Businesses make a profit by providing things that people need and want.
|What are IGCSEs?||It includes a range of subjects, which give the student general understanding of the various elements of running a business.|
There is a difference between a need and a want. A need is something essential to survive.
A want is something which we would like but do not need to survive. Humans have five basic needs: Needs are only limited.
Once we have these, we can think about other things we want. Wants are unlimited - we all have different ones, and we tend to want bigger and better things. Products are launched to fulfill the needs and wants of the consumers in the business's target market.
A market is defined as a place where buyers and sellers meet. The world's resources are divided into four groups: Land - natural resources. Enterprise - business owners and entrepreneurs. There aren't enough resources to meet all of our needs and wants. This is termed scarcity.
This leads to an opportunity cost. Consumers and businesses have to make choices when they buy things, because they do not have enough money to buy everything they want.
The opportunity cost is the cost of rejecting the alternatives when making a selection.
For example, if you only have enough money to buy a video game or a CD, the opportunity cost of choosing the game is the CD. By buying the game, you give up the opportunity to buy the CD.
Every business decision has an opportunity cost. There is a risk that the decision will be poor and the business will make a loss. Any profit is the owner's reward for taking that risk. Goods and Services[ edit ] In most cases, businesses will either produce goods or provide a service.Subscribe to email updates from tutor2u Business.
Join s of fellow Business teachers and students all getting the tutor2u Business team's latest resources and support delivered fresh in their inbox every morning. GCSE This document presents grade boundaries for GCSE Full Courses, Short Courses, and Double Awards.
For qualifications that use uniform marks you can see the unit grade boundaries. For units which comprise one component these are BUSINESS STUDIES (SC) UNIT 14 40 38 37 34 31 27 23 19 15 BUSINESS STUDIES UNIT 2 60 47 42 37 GCSE content from BBC Bitesize for students in England, Northern Ireland or Wales.
Choose the exam specification that matches the one you study. Significant contribution Letts Revise GCSE Business Studies. 3 Economic Activity There are four factors of production to any economy.
Factors of production are resources required to produce, market and supply products and services to consumers.
BBC GCSE Business studies revision resources looking at topics such as: business aims and environment, finance, marketing and production. Business Studies is an academic subject taught in schools and at university level in many countries.
The assessment is part coursework and part exam and you'll need to know the sorts of essay skills which will help you get a good grade; Marked by Teachers has thousands of Business Studies GCSE essay examples that can really help you build that sort of understanding. Cambridge IGCSE Business Studies Study and Revision Guide 2nd edition [Karen Borrington, Peter Stimpson] on grupobittia.com *FREE* shipping on qualifying offers. Providing guidance that helps students practice and troubleshoot their exam technique, these books send them into their exam with the confidence to aim for the best grades. - Enables Author: Karen Borrington. grupobittia.com: GCSE Business Studies () by Alain Anderton and a great selection of similar New, Used and Collectible Books available now at great prices.
Its study combines elements of accountancy, finance, marketing, organizational studies and economics. (GCSE) option for Year 9, Year 10 and Year 11 at secondary school.