IGCSE Business Studies

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Presentation transcript:

IGCSE Business Studies 1.1.2 Classifying business enterprises between private sector and public sector in a mixed economy

Learning Outcomes Students understand the differences between the public and private sectors. Students have an appreciation of how businesses may have different objectives when in different sectors and operate differently. Students have an appre3ciation for why public sectors and private sectors exist in a mixed economy.

Three Economic Types Planned Mixed Free or Market What can you tell me about them?

Mixed Economy A Mix of Public (Government owned and run) and Private (individuals or groups) goods & services

The Sectors PUBLIC SECTOR PRIVATE SECTOR PUBLIC LIMITED COMPANY SOLE UNINCORPORATED INCORPORATED FRANCHISES NATIONALISED INDUSTRIES LOCAL GOV CENTRAL GOV PUBLIC LIMITED COMPANY SOLE TRADER PARTN- ERSHIP PRIVATE LIMITED COMPANY

IS BSM IN THE PUBLIC SECTOR? Offers important goods and services for citizens with an emphasis on SERVICE E.g. education (schools), Security (police/army), Health (hospitals/doctors) Rescue (Fire) WHY? IS BSM IN THE PUBLIC SECTOR?

Private Sector Provides goods and services that people want or need with an emphasis on PROFIT

Research Task – 10 mins Choose one business in the Private sector and one in the public sector Research them and find out what their objectives are Compare and contrast the objectives between the private and public sectors HOW MIGHT THE FIRE BRIGADE AND THE POLICE FORCE OPERATE IN THE PRIVATE SECTOR?

Findings

Video… Watch the video “Objectives private vs public sectors” Which objectives are better?

Plenary Questions How is the Public Sector funded? What are the main objectives of Public and Private sector businesses? Are Public sector businesses competitive? Who do Public sector businesses benefit? When should a business be in the private or public sectors? e.g. NHS & Royal Mail in UK Should we have a Private sector at all?