1.1.1 Business activity

This lesson pack contains:

PowerPoint:

• The purpose of business activity
• The factors of production needed for business activity: land, labour, capital and enterprise
• The concept of adding value
• The nature of economic activity, the problem of choice and opportunity cost
• The dynamic business environment
• Why businesses succeed or fail
• Differences between local, national, international and multinational businesses

PowerPoint: Superdry adding-value

• Company information
• Details of adding value
• Student-led activity

Activity: Opportunity cost and trade-off

• Scenario-based tasks