<p>To demonstrate the existing knowledge of Business Studies you already have; To evaluate the importance of business skills in life. Welcome to business studies.</p>
<p>The purpose and nature of business activity:</p>
<p>• Concepts of needs, wants, scarcity and<br />
opportunity cost<br />
• Importance of specialisation<br />
• Purpose of business activity<br />
• The concept of adding value and how added<br />
value can be increased</p>