This Purchase includes a full summary of the term 2 Business studies work.
- Forms of Ownership
- Social Responsibility
- Business Sector
- Contemporary Socio- Economic Issues
A separate solution Book for the activities can be purchased or can be part as part of the package deal at a lower pr...
This revision program is designed to assist you in revising the critical content and
skills covered during the 2nd term. The purpose is to prepare you to understand
the key concepts and to provide you with an opportunity to establish the required
standard and the application of the knowledge necessary to succeed in the Final
NSC examination.
The revision program covers the following topics:
• Business Sectors
• Contemporary Socio-Economic Issues
• Social Responsibility
• Forms of Ownership
2023 Business Studies Term 2 Gr 10 Revision Booklet
, 2
INDEX PAGE
Contents Page numbers
1 Business Sectors 2 – 10
2 Contemporary Socio-Economic Issues 11 – 16
3 Social Responsibility 17 – 23
4 Forms of ownership 24 - 27
This revision booklet covers the FOUR topics that were taught in Term 2.
The first topic we will focus on is:
1. BUSINESS SECTORS
Key concepts
• Primary sector: deals with the extraction of raw materials and natural
resources.
• Secondary sector: involves the process of transforming raw materials into
finished or unfinished products.
• Tertiary sector: refers to industries that offer services to other businesses
and consumers.
• Formal sector: businesses in the formal sector are registered businesses
who pay taxes to the government.
• Informal sector: businesses in the informal sector refer to businesses that
are not registered and do not pay tax on the profits of the business.
• Private sector: consists of businesses owned, managed, and controlled by
individuals and organisations seeking to generate profit.
• Public sector: is the part of the economy, where goods and services are
provided by the government or local authorities carrying out the task instead.
2023 Business Studies Term 2 Gr 10 Revision Booklet
, 3
Introduction
In Grade 9 Economic and Management Sciences (EMS) you learned about the
Sectors of the Economy in Entrepreneurship. We will continue learning about
these sectors but focus on:
• the meaning and relationship between the three business sectors
• the meaning and importance of the formal and informal sectors
• the meaning and purpose of the public and private sector.
In Grade 11 we will link the three sectors and in Grade 12 we will focus on
identifying the business sectors and the classification of the challenges according
to the three business environments.
1.1 Meaning of the primary, secondary and tertiary sectors.
Lower Order Question 1 Give examples of activities in the primary, secondary and tertiary sectors
Middle Order Question 2 Define/Explain the meaning of the primary, secondary and tertiary sectors.
Higher Order Question 3
SECTOR DESCRIPTION EXAMPLES
● Obtain natural resources from ● Mining
Primary Sector nature ● Fishing
● Natural resources are sold to the ● Agriculture
secondary sector as raw materials ● Forestry
● Natural resources which are not man-
made like coal, gold, fish, and
livestockare extracted from this
sector
Secondary Sector ● Convert raw materials into final ● Manufacturing
goods for consumption by the industry
consumers ● Construction industry
● It includes the manufacturing factories, ● Generation of
construction, and energy generation electricity
● Provision of water
2023 Business Studies Term 2 Gr 10 Revision Booklet
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