Summary Grade 10 BUSINESS STUDIES Paper 1 June exam 2024
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Vak
Business Studies
Instelling
10th Grade
Previous exam papers have been used to compile these notes, @IMPAQ June exam 2019, 2020 & 2022/DBE Gauteng 2023.
Topics Covered:
1. Micro environment
2. Market environment
3. Macro environment
4. Interrelationship of micro, market and macro environments
5. Business sectors
6. Business func...
Grade 10
BUSINESS
STUDIES
Paper 1
June exam
2024
Previous exam papers have been used to compile these notes, @IMPAQ June exam 2019, 2020 &
2022/DBE Gauteng 2023. These are only suggested answers from the memoranda. Some
information is repeated, I want to show you the different ways the same information is asked.
I encourage you to answer the calculation/illustration questions without even looking at the
answers.
Good luck. Juffrou Ansie
Topics Covered:
1. Micro environment
2. Market environment
3. Macro environment
4. Interrelationship of micro, market and macro environments
5. Business sectors
6. Business functions and activities
7. Contemporary socio-economic issues
@ Juffrou_Ansie
, 2
Keep the following in mind when answering the question paper:
➢ You MUST answer in full sentences.
➢ If you are asked for FIVE facts, just write 5. The rest of your answers WILL be ignored.
➢ All questions that need to be explained/discussed/described will be marked as follows:
I. Heading – 2 marks
II. Explanation – 1 mark or as indicated in the memorandum
➢ Essay questions:
I. No marks may be awarded for content repeated in the introduction and
conclusion.
II. If INTRODUCTION and CONCLUSION are not indicated, you will lose the marks.
Essay layout:
Analysis:
Introduction
17/36
X (2 points)
18/36
X-
Body (Do not write and underline body)
x (Write down and underline each sub-heading & write full sentences in full sentences.)
x
x 40
40
x
x
Conclusion
X (2 points)
MULTI – CHOICE
Infrastructure Railways, roads and communication networks are examples of
infrastructure
Inflation Inflation is a controlling factor related to the economic environment of
the business.
Consumer market The consumer market can be subdivided into markets for durable
products, semi-durable products, non-durable products and services
@ Juffrou_Ansie
, 3
Organizational culture Values, beliefs and purposes are the three key issues of organizational
culture
A trade union A trade union can best be described as a body that represents the
interests of employees
Labour Relations Act The Act sets out the minimum requirements for employment
Budget A document that shows how a business plans to spend the income it
expects over a certain period of time
Affirmative action Affirmative action is when preference is given to previously
disadvantaged individuals when hiring new candidates
Dumping Occurs when other countries sell their surplus products in their
markets on our local markets.
Information Knowledge presented to management in a meaningful and useful way,
which can be used in decision-making, is known as information
Rival Any business that offers the same or similar type of product or service.
Workplace Forum Organizations that aim to make the workplace better for the workers.
Intellectual property Ideas that belong to the person who created them.
Reference The previous employer who can be contacted to find out more about a
certain candidate.
Patent Law protecting new inventions.
Regulators Organizations that ensure that the code of conduct and rules of fair
trade are observed.
Strategic alliances Two or more businesses that come together with joint business
concerns.
Organizational Organizational resources consist of human, technological, physical
resources and financial resources.
Durable products Television sets and washing machines are examples of durable
products
Demographic The demographic environment can best be defined as different
environment languages and traditions
Interested parties The owners of a business are called stakeholders.
The micro - The micro-environment is also known as the decision-making
environment environment
The marketing mix The marketing mix includes price, product, place, promotion
Bargaining power Consumers' power to negotiate a better price is called bargaining
power.
Processing technology Machining technology improves the entire production process by
replacing human labor with machinery.
Inequality Inequality is when people treat others unfairly and as if they are not
equal
Capital Capital is the business's money or assets, including the money the
owners need to start and operate a business.
Skill levy Funding used for education and training is a skills levy
Protest People demonstrating their anger and frustration in the streets.
@ Juffrou_Ansie
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Domestic crime Crime such as violence against women and child abuse.
Management The process used in the enterprise to plan activities, organize
resources, coordinate functions and which leads to the enterprise
achieving its goals.
BUSINESS ENVIRONMENTS
COMPONENTS OF THE MICRO, MARKET & MACRO ENVIRONMENTS. (RESAP)
@ Juffrou_Ansie
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_______________________________________________________________
RELATIONSHIP OF MICRO, MARKET AND MACRO ENVIRONMENTS
How are micro and market environments related?
Internal business and The behaviour of the consumer will affect the micro-environment
consumers to a great extent. As the purchasing power of consumers
decreases, the business will need to put marketing strategies in
place to attract consumers.
Internal business and If a supplier goes out of business, it can have a serious effect on
suppliers the business. It will have to find a new supplier willing to supply at
the same price. This puts pressure on the purchasing
department.
Internal business and If an intermediary negotiates a new market in another country, it
intermediaries will have an impact on some departments (purchasing, finance,
marketing and administration) in the business because the
production of the company will have to increase.
Internal business and Competitors bringing a new product to market can cause
competitors business sales to drop. Competitors who drop their prices
because they have found a cheaper supplier will prevent
products from being sold.
Anthea's African Gems is a business that specializes in fine jewelry. Although Anthea's African
Gems sells its gems to many overseas consumers, it does not only cater to international markets.
Anthea's African Gems strives to make a positive contribution to the South African economy by
creating jobs and helping young entrepreneurs to start their own businesses.
Can you answer the following question?
Identify an element from each of the three business environments mentioned in the case study.
Match the element with the correct environment and indicate the extent to which Anthea's African
Gems can control each of these elements.
How the components of the market environment can influence each other. @IMPAQ JUN 2020
Consumer • Customers have unlimited needs and desires to satisfy.
• Customer needs change over time.
• Customers' different behaviour patterns.
Suppliers • The business requires suppliers to provide the right quality and
quantity at the right time.
• Prices and credit terms must be considered when choosing
suppliers
Intermediaries • The business must consider how the use of intermediaries will
affect input costs, as well as the prices the customer will
ultimately pay
Competitors • The business must consider competition from other businesses
selling the same price or similar products.
• The price offered should be as competitive as possible to attract
customers
Civil society • These organizations are part of the market environment because
they use and provide goods and services.
Regulators • The government is a regulator and uses laws to control buying and
spending.
• Most regulations are introduced to promote fair trade
@ Juffrou_Ansie
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Strategic alliances • Some businesses form partnerships with suppliers to ensure
consistent prices and better services.
Trade unions • Unions are strategic allies for the workforce and they fight for
better hours.
The Purpose of Organizational Culture @ IMPAQ Jun 2020
• The way in which the company does business; formal or informal.
• Interaction with management and staff ie organizational structure.
• The moral values and ethics of the company.
• Strict rules on time management.
• Create jobs
1. Identifying possible risks by identifying risk-bearing activities within the organization.
2. Analysis of each possible risk to determine how likely it is that the risk will occur.
3. Assess the potential impact of the risk in relation to financial liability.
4. Controlling or monitoring the risk so that measures can be put in place to prevent it from
happening.
5. Managing the risk by determining what steps should be taken if it does happen.
Customers form the 'market' of the business. Consumer behaviour and choices are influenced by
cultural, social, personal and psychological factors.
CULTURAL FACTORS SOCIAL FACTORS PERSONAL FACTORS PSYCHOLOGICAL
FACTORS
Cultural factors vary Social factors include Personal factors such Four psychological
from country to reference groups as age, occupation, factors or needs that
country and can be (group of people to lifestyle, economic influence buying
based on religion, which individuals situation, personality behavior:
geographic region, believe they belong), and self-concept motivation,
race, favorite hobbies, family role (father, (characteristics). perception, learning,
sports. Family wealth, mother, single belief and attitude.
levels of education, parent), role and
income, tradition and status in the
occupational classes community (clubs,
in society groups,
organizations).
The business needs inputs to produce goods and services:
Inputs represent FOUR factors of
Inputs:
production:
• raw materials
•natural resources
• financing
• capital
• workers.
• work
• entrepreneurship.
Input comes from suppliers and
mustbe available:
• at the right time
• for the right price
• of the right quality
• of the right amount.
Intermediaries
@ Juffrou_Ansie
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