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Cambridge IGCSE Business Studies

1.1.1The nature of business activity

The nature of business activity in Cambridge IGCSE Business Studies: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic33 practice questions2 lessons
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Learning objectives

What the syllabus expects you to be able to do.

  1. 1.1.1.1Describe the factors of production: land, labour, capital and enterprise.
  2. 1.1.1.2Explain the concept of added value and how a business can increase it.
  3. 1.1.1.3Explain the concept of opportunity cost.

Lessons

  • Adding value: value addition and beneficiation

    30 min

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  • Business activity, needs and wants, and the factors of production

    25 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

The nature of business activity: sample question

1 mark

A furniture workshop in Kwekwe buys a new electric saw. As a factor of production, the saw is:

Choose one answer

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