Course review

1.1 What is a business?

Review each learning objective in this topic, then open its concept explanation or question set.

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Learning objective

1.1.1—Nature of business

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• Understand the nature of business • Businesses combine resources, decision-making, and objectives to create goods or services

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Learning objective

1.1.2—Business sectors

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• Apply primary, secondary, tertiary, and quaternary sectors • Classify business activity by production stage or knowledge/service role

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Learning objective

1.1.3—Entrepreneurship

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• Apply entrepreneurship in business contexts • Entrepreneurs identify opportunities, take risks, and organize resources

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Learning objective

1.1.4—Start-up challenges and opportunities

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• Analyse challenges and opportunities for starting up a business • Start-ups face uncertainty, finance, competition, legal issues, and market opportunity

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