Business studies

• Businesses


  Provide goods, services, and other useful things to customers
• Reasons businesses exist


  • Not just for GCSE
  • Provide goods and services
  • Provide things customers are willing to pay for
• Businesses


  • Sell products to customers who are willing to pay for them
  • Provide goods or services that are needs (things you can't live without)
  • Provide goods or services that are wants (things you would like to have, but can survive without)
• Reasons businesses are set up

  • Someone starts making a good or providing a service they think customers will want
  • Distribute goods by buying from manufacturers and selling to businesses or individual customers
  • Set up to benefit other people by making goods or providing services (often not-for-profit)
  • See a business opportunity and want to fulfil it (e.g. starting a franchise)
• Primary sector


  Produces raw materials (natural resources used to make goods or services)
• Secondary sector


  Manufactures goods by turning raw materials into finished products
• Tertiary sector


  Provides services, either for other businesses or for consumers
• Businesses exist for a variety of reasons, not just to make money