Revision questions for section 1 IGCSE Business Studies, Understanding Business Activity.
Quick revision questions and prompts. Covers all of the important knowledge. Use for studying, revision, end of topic review, quiz, classwork, homework etc. 0450 Business studies Cambridge IGCSE.
1.1 Business activity
1.2 Classification of business
1.3 Enterprise, business growth and size
1.4 Types of business organisation
1.5 Business objectives, stakeholder objectives.
Needs, wants, scarcity, opportunity cost. Importance of specialisation. Adding value.
Primary secondary teriary production
Developing and developed economy
Public sector private sector
Mixed economy
Entrepreneurship
Business plans
Startups
business expansion and growth
Business failure remain small, risk of failure.
Social enterprise
Internal and external stakeholders
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