Business Studies Homework Booklet

Year 10

First Half Term

Homework Homework is a very important thing and will help you to achieve good grades. This booklet contains your homework for the next half term and the dates by which it should be completed. You should start by recording this information in your planners. Your teacher will look at this homework booklet regularly and check that you are up to date. They will also take it in and give you feedback on your work. It is very important that you have completed homework by the required date and that you see your teacher before this date if you need help.

Booklet Pages

To be completed by

week beginning

Student Signature

Teacher Signature / Comment

Week 1. Homework 1.)

Week 2. Homework 2.)

Week 3. Homework 3.)

Week 4. Homework 4.)

Week 5. Homework 5.)

Week 6. Homework 6.)

Week 7. Homework 7.)

Week 8. Homework 8.)

Library

Cattle

Market

Industrial Estate

Can factory

Cash & Carry

Clothing

Manufacturer

Soft Drinks Manufacturer

Builders Yard

Shoe Manufacturer

Old People’s Home

Bank

Leisure

Centre

Pub

Quarry

Farm

Shops

WH Smith

Halfords

Oxfam

Local Butchers

Tescos

Other Local

Shops

Council

Offices

Map of Somewhere

Pleasure Park with

boating lake

Homework 1.) Have you got what it takes to be a successful entrepreneur? Go on to the following website: http://www.bbc.co.uk/science/humanbody/mind/surveys/millionaire1/index.shtml

Complete the “what is you millionaire potential?” quiz and record your score here

……………………………………………………………………………………… List the five main skills or qualities you think are necessary in order to run your own business. For each explain why you think it is important. 1.) 2.) 3.) 4.) 5.)

Homework 2.) Starting your own business. Your holiday homework was to come up with a business idea. Any business will need things we call Factors of Production these are: Land (things existing in nature – natural resources) Labour (people – man’s physical and mental effort in production) Capital (equipment, tools, buildings used) Enterprise (The taking of risk in setting up a business. Enterprise organises the other factors of production. Bill Gates is an example of a successful entrepreneur) TASK – For your business, explain the factors of production you will need to start the business. You should give examples for each factor. (eg how much labour and what kind of skills will they need) Name / Type of Business Land Labour Capital Enterprise Where would you get the money from to buy the capital you need? What skills and abilities would you need to be a successful entrepreneur and make a success of your business?

Do you think that you have the skills and abilities required to be a successful entrepreneur. Explain why or why not (eg write down things you have done or would find difficult to do). Homework 3.) Chain of Production Poster In class you will have been taught about chains of production for products. (see basic example above) Your homework is to produce a chain of production poster for a product of your choosing. Make sure you explain each of the three mains stages of the chain. You may wish to produce an augmented chain of production if you wish (ask your teacher what this means). This homework needs to be well presented, labelled and explained. You may choose to use ICT if you wish.

Primary – Cattle

Farmed

Secondary – Hides

manufactured into shoes

Tertiary – Shoes sold in

shops

Homework 4.) Look at the map of Somewhere and then complete the questions. PRIMARY SECTOR (where raw materials are extracted) Using the map, state 2 primary sector businesses. Explain how you or the people of Somewhere may have benefited from them. Business One Benefits Business Two Benefits SECONDARY SECTOR (Manufacturing & Assembly) Using the map, state two secondary sector businesses. Explain how you or the people of Somewhere may have benefited from them. Business One Benefits Business Two Benefits

TERTIARY SECTOR (Services) Using the map state 2 tertiary sector businesses. Explain how you or the people of Somewhere may have benefited from them. Business One Benefits Business Two Benefits Somewhere has organisations operating in both the Private & Public Sector. Private Sector = Owned by business people usually wanting to make a profit Public Sector = Owned & run by the government Tick to indicate whether each of the following organisations in Somewhere are in the Private or Public Sector

Organisation Private Sector Public Sector

Pub

Council Offices

The Bank

Tescos

Library

TASKS

1.) Give three examples of jobs for each sector of the economy

Primary Secondary Tertiary

1. 1. 1.

2. 2. 2.

3. 3. 3.

2.) Look at the bar graphs – explain what has happened to the number of

people employed in each of the sectors over the period. ………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

3.) Look at the pie charts – explain what has happened to the proportion of people employed in each of the sectors over the period

…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 4.)What reasons can account for these changes you have noted? ………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

1971

11%

36%53%

Primary

Secondary

Tertiary

2001

4%20%

76%

Primary

Secondary

Tertiary

Homework 6.) Interdependence Interdependence means how one business needs another. For example: Task 1.) Create a spider diagram to illustrate all the businesses Tescos may rely upon. Task 2.) Look at the map of Somewhere. Explain how the following may be affected if the clothing manufacturer shuts down with the loss of 600 jobs Marks & Spencer The Pub A café on the industrial estate The Local council

Sells to its

customer

Buys stock

from

For electricity

Homework 7 – Some Introductory Terms

Learn all of the following terms exactly. You will be tested on the definitions. A Business – This is an organisation that produces goods and services

in order to satisfy people’s wants and needs. Wants – This is something that people desire but they can get by

without it – eg cable TV Needs – This is something people have to have in order for survival -

eg water Opportunity Cost – This is the next best alternative forgone – eg if I bought a Mars bar the cost of this is the Snickers I could have purchased instead. Chain of Production – This is a diagram that shows the stages of production for a good. Added Value – This is when a business increases the value of a

product – eg making a table out of a piece of wood. Market Research – This is the process by which businesses find out

information about customers and trends. A common way to do this is through a questionnaire. Promotion – This is the way by which businesses make people aware

of their products. They might use advertising or sponsorship. Primary – This is the stage of production where raw materials are

extracted from their natural state. For example farming. Secondary – This is the stage of production where goods are manufactured. For example shoes being made in a factory. Tertiary – This is the stage of production where a service is provided or

a product sold. eg shoes being sold at Brantanos. Interdependence – This term describes the way all businesses depend

upon other businesses. Profit – This is the money that a business is left with after taking its

costs away from its income.

Homework 8.) Cost Benefit Analysis The local council has received a planning application for a new nightclub to built in the town of Somewhere. The club called “Somewhere Somehow” would be placed right in the centre of town opposite the pleasure park. There are clearly both costs and benefits of the idea to people and local business. Task – complete the frame below to identify possible costs and benefits of the new club Private Costs

costs to the owners of the club

Private Benefits benefits to the owners of the club

Social Costs costs to other businesses and the

people of somewhere

Social Benefits benefits to other businesses and the

people of somewhere

Explain in detail how the new club may affect the following: Unemployed People in Somewhere The Pub People who live close to the club If the new club is to go ahead – how should the council solve some of the possible problems

Kyles plc is a hotel chain

Student Name

MAG CAG TARGET Intro Work Test Score

Strengths & Things I Have Enjoyed

Areas For Development (Things I need to do better)

Targets / Strategies for Improving In order to improve I will….

Student Comment Teacher Comment