1. UNIT 1 – BUSINESS ACTIVITY Chapter 2 – Types of Business Activity

2. WHAT YOU WILL LEARN….. The different levels of business activity pp rimary, secondary, tertiary How private & public sectors of industry are organised How do businesses expand mm erger & take-over How to measure and compare business size

3. KEY TERMS Industry mm anufacturing of a good or service within a category tt he organized action of making of goods and services for sale Economy tt he system of production and management of material wealth  "economic growth"; "aspects of social, political, and economical life

4. LEVELS OF BUSINESS ACTIVITY Primary Secondary Tertiary

6. TYPES OF COUNTRIES Developed Countries Developing Countries

8. SECTORS OF INDUSTRY

10. TYPES OF ECONOMY Types of Economy Free Market Command/Planned Mixed

11. (FREE) MARKET ECONOMIES (Free) Market Economies Resources Privately Owned Produce Goods  Profit Demand & Supply

12. (FREE) MARKET ECONOMIES

13. COMMAND/PLANNED ECONOMIES Command/ Planned Economies Resources Govt Owned State Owns & Controls State  What & How Much Consumers  Little Choice Workers  Ordered

14. COMMAND/PLANNED ECONOMIES

15. MIXED ECONOMIES Mixed Economies (Free) Market Economies Command/ Planned Economies

16. GOVERNMENT CONTROLS

17. EFFICIENCY It is the degree to which something is done well or without wasted energy or effort

18. PRIVATISATION When governments sell of businesses they previously owned to new owners in the private sector

19. PRIVATIZATION New owners  Profit Motive Increase Competition Government needs cash Decision-Making Changes Sale

20. Loss-Making services closed Job losses Risk of Monopoly Benefits