1. GCSE Business Studies Unit 1 Starting a Business
Business Resources

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Learning Outcomes
Explain the resources a business needs (land, labour, capital and enterprise)
Analyse how businesses use resources differently
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3. Resources a business needs
LAND
ENTERPRISE
LABOUR
Business Resources
CAPITAL
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4. Resources a business needs
Land
Includes the land used to build premises, roads and farmland
Also refers to all the natural resources and raw materials, for example, oil, fish and coal
2. Labour
Refers to all human resources who work in a business
Labour can be both physical and mental
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5. Resources a business needs
3. Capital
Includes money invested by owner
Also includes items bought with this money, known as capital items e.g. fixed assets
4. Enterprise
Refers to the person with the idea and skills to bring the other factors together and organise them
Without Enterprise there would not be a business
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6. How businesses use resources differently
Primary Production
Businesses in this sector acquire raw materials from the land. For example, farming and mining.
For these businesses LAND would be the most important business resource. As they need resourceful land to operate their business.
Secondary Production
This is the manufacturing sector which makes products from raw materials.
Businesses in this sector may rely more heavily on LABOUR (skilled workforce) and CAPITAL to buy raw materials and to manufacture products.
Tertiary Production
This refers to all the businesses offering services. For example, insurance, banking, hairdressing and teaching.
Businesses in this sector would require a central business location close to its customers, so, LAND would be very important. LABOUR would also be important as businesses compete to offer an excellent service
ALL business sectors require enterprise as a business resource. Without ENTERPRISE there would not be a business
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Check List
Learning Check – Do you know . . .
1. The resources a business needs?
2. How businesses use resources differently?
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