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Business Studies Grade 10 summary (Consumo textbook)
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Summary of 54 pages for the course Business Studies at 10th Grade (...)
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Business StudiesGrade 10
TERM 01-04
CONSUMO TEXTBOOK
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,Chapter 01 : Business Environments
PUBLIC SECTOR
Public sector businesses are government owned and provide collective goods and services to
the residents.
Collective goods, such as infrastructure, include government hospitals, schools, and the police
service.
Funding for these businesses comes from taxes collected from working people and private
sector businesses.
PRIVATE SECTOR
Private sector businesses, founded by entrepreneurs, strive to satisfy customer needs and make
a profit.
Entrepreneurs must provide capital, which can come from own money or borrowed capital.
Competition in the private sector requires good quality products/services at a competitive price
for success.
The private sector includes the formal and informal sectors.
FORMAL SECTOR
The formal sector consists of businesses that follow the country's laws, pay taxes and contribute
to the GDP of South Africa.
These businesses operate from fixed premises, such as shops in shopping complexes or other
permanent facilities.
INFORMAL SECTOR
Businesses in the informal sector do not pay taxes and are not included in the GDP calculation.
Although they often do not have fixed premises, some can be operated from a fixed location.
Examples of businesses: production, hawking, and services such as hair cutting or braiding.
Although not included in GDP, the informal sector plays an important role in the South African
economy.
Entrepreneurs in the informal sector contribute indirectly to GDP by purchasing raw materials or
products from the formal sector.
There is the potential for informal businesses to grow enough to become part of the formal
sector.
People in the informal sector help alleviate poverty by earning an income and spending it in the
economy.
Copyright © Skool Notas - may NOT be distributed or resold Page 01
, Chapter 01 : Business Environments
PRIMARY SECTOR
Activities in the primary sector include the extraction or extraction of raw materials or raw
materials from the earth.
Examples of this are farming, mining, fisheries, and similar activities.
Workers in this sector often have low educational levels, because it is a labor-intensive sector that
emphasizes manual labor.
Technological development can lead to replacement of laborers and loss of jobs for those without
specific training.
SECONDARY SECTOR
In the secondary sector, raw materials from the primary sector are processed into manufactured
goods.
This sector includes manufacturing and construction activities.
Examples of businesses: car manufacturing, bottling industries, and engineering activities.
TERTIARY SECTOR
The tertiary sector focuses on the sale of goods and services.
Businesses in this sector include retail, distribution businesses, and entertainment.
QUADRIPARTITE (QUATERNARY) SECTOR
The four-part sector focuses on intellectual and knowledge-based activities.
Examples of this include scientific research, education, consulting and information
management.
LADIES SECTOR
The five-part sector is an extension of the four-part sector and focuses on high-level decision-
making in society.
These include government decisions, top management in large businesses and universities, as
well as cultural activities and the media.
Copyright © Skool Notas - may NOT be distributed or resold Page 02
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