![]() It creates a firm foundation for further education and training in business and other related fields.It enables learners to acquire skills for wise buying and selling. ![]() It helps individual to develop various intellectual abilities such as inquiry, critical thinking, analysis, interpretation, rational judgement, innovation and creativity.Equips the individual with knowledge and skills required to evaluate business performance.Helps the individuals to develop positive attitudes towards the environment.Equips individuals with abilities to understand the role of communication and information technology in modern business management.Enables the individual to understand the role of government in business activities.Equips individual with abilities to promote co-operation in society through trade.Assists individual to acquire self discipline and positive attitude towards work.Makes the members of society to appreciate the need for good business management practices.Equips the members of society with knowledge and skills necessary to start and run a business comfortably.It enables the learners to acquire basic knowledge, skills and attitudes necessary for the development of self and the nation by starting and operating business. ![]() Assists the individuals in appreciating the role of business in society/in provision of goods and services.Assists the learners/members of the society to acquire knowledge and awareness of business terminologies which are necessary when discussing business issues such as profit and loss.Some of the benefits of learning business studies include: Importance of Business studies in societyīusiness studies is meant to prepare learners to function as informed consumers, producers and workers in the society. The person who carries out these activities is refered to as an entrepreneur. This is the study of activities involved in the process of identifying a business opportunity and acquiring the necessary resources to start and run a business. communication, filling, clerical work, reproduction of documents e.t.c This refers to all activities that are carried out in an office e.g. This refers to a systematic way of recording business activities which all used for decision making. This is the study of how human beings strive to satisfy their endless wants using the available scarce resources. Trade refers to the exchange of goods and services for other goods and services or money.Īids to trade are human activities (services) that assist trade to take place. This is the study of trade and aids to trade. People who are involved in production of goods and services are referred to asĪctivity 3: Using the lists of goods and services above, the students to name those involved in their production. v) Production: Refers to the creation of goods and services or increasing their usefulness through activities such as transporting them to where they are required.iv) Services: These are efforts or acts/actions or activities that may be sold and are intangible (cannot be touched nor felt).Īctivity 2: The students to list items that money is paid to get but they cannot touch.–Furniture, buildings, books, vehicles e.t.c ![]() they can be touched and felt.Īctivity 1: The students to list items in the classroom that can be touched and felt. Iii) Goods: These are items that are tangible i.e. –It can also be defined as the study of activities that are carried out in and around production, distribution and consumption of goods and services. These activities are related to the production of goods and provision of services.
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