1. S2 Core Business
Goods and Services

2. Today’s Learning Intention
Identify what a Good and a Service is and recognise the difference between both
Understand what is meant by the terms Durable and Non-Durable

3. What is the purpose of a Business?
A business exists in order to make money and to do this they must decide whether to sell goods, services or both to their customers.

4. Goods and Services Intangible Tangible SERVICE GOOD
Is provided for you and you cannot necessarily see or touch it, which makes them…
Is something you can see and touch which makes them…
Intangible
Tangible
GOOD
SERVICE
In pairs come up with 2 examples of a Good and 2 examples of a Service

5. Durable and Non-Durable
Goods can be durable or non-durable
In pairs come up with 2 examples of a durable good and 2 examples of a non-durable good
NON-DURABLE
DURABLE
These goods only last for a short period of time
These goods are long lasting

6. Now complete Activity 1 in your notes and tasks booklet
Once finished, complete the extension activity

7. What do we now know...? The difference between a Good and a Service
What Durable and Non-Durable means

8. S2 Core Business
Needs and Wants

9. Today’s Learning Intention
Identifying the differences between Needs and Wants

10. Needs
What do you REALLY need to survive...? With your partner, agree on 3 things you both think you need in order to survive.

11. Needs Wants Needs are items which people cannot live without.
These are: Food, Water, Shelter and Clothing
Wants are unlimited. Each person will have different wants which will change with time.
For example: I-pad, Sports Car, Holidays

12. Now complete Activity 2 in your notes and tasks booklet
Once finished, complete the extension activity

13. What do we now know...?
The difference between a Need and a Want

14. S2 Core Business
Entrepreneurs

15. Today’s Learning Intention
To highlight factors that make a business successful
Understand what is meant by an Entrepreneur

16. Someone who is a risk taker and has an idea to create a new product/service then turns it into a successful business.
But how do they do this...?
An Entrepreneur =

17. What makes a Business successful?
Enough money to start up the business- this is known as Capital
The idea (Enterprise) from the entrepreneur
Land/premises for setting up the business. Can also include natural resources used by the business
A workforce ( Labour) to start-up the business C E L

18. Now complete Activity 3 in
your notes and tasks booklet

19. Entrepreneurs
Can you think of any famous people who may be entrepreneurs...

20. Now complete Activity 4 & Activity 5 in your notes and tasks booklet
Once finished complete the extension activity on page 11

21. What do we now know...? The factors that make a business successful
What an Entrepreneur is

22. S2 Core Business
Skills and Qualities

23. Today’s Learning Intention
To extend our knowledge on knowing what Skills and Qualities are

24. Last period we were speaking about entrepreneurs...
What skills and qualities do you think Simon Cowell has, which have helped him become successful...
Confident
Creative
Hard Working
Determined
Ambitious
People Skills

25. Skill Something that we learn to do and become good at e. g
Skill Something that we learn to do and become good at e.g. Riding a bike
Quality
A word used to describe a person’s personality and characteristics e.g.

26. Now complete Activity 6 in
your notes and task booklet
Once finished complete the extension activity on page 13

27. What do we now know...?
What is meant by a skill and examples of skills
What is meant by a quality and examples of qualities

28. S2 Core Business
Types of Businesses

29. Today’s Learning Intention
To extend our knowledge on knowing what different business types are

30. Private Sector
This is the sector in which businesses are owned by individuals or groups of people.
What aims may they have for their businesses…
Aim A.K.A Goal, Target or Objective - something that a business hopes to achieve over a period of time.

31. Aims of a Private Sector Business
To survive
Provide a good quality product/service
Maximise sales
Aims of a Private Sector Business
Maximise profit
To grow

32. Private Sector Sole Trader
Someone who starts up a business on their own is a sole trader.
It is owned, controlled and financed by one person.
Example:
Partnership
This is a business set up and run by 2 or more people.
It is owned, controlled and financed by the partners.
Between 2-20 people can be included in the partnership agreement.
Example:

33. Now complete the following activities in your notes and tasks booklet:
Activity 7
Activity 8
Activity 9

34. What do we now know…? What is meant by the Private Sector
What the aims of businesses that are within this sector
The difference between a Sole Trader and a Partnership