Institute of Commercial Management | Qualification Subject

Business Environment (The)

Main Topics of Study

The Nature of Business Activity

  • What is business activity?
  • Enterprise and the entrepreneur
  • Enterprise and the factors of production
  • What entrepreneurs do

The Environment in which Businesses Operate

  • Business environment
  • Law
  • The economic environment of business
  • Scarcity and choice
  • Cost and opportunity cost

The Objectives of Business

  • Profits and survival
  • Profits and expansion
  • Primary, secondary and tertiary production
  • Private sector activity
  • Public sector activity
  • The interdependence of businesses

Money and Business Activity

  • The nature of money
  • The qualities of money
  • Wants and economies
  • Money and economies

Example Candidate Response Booklet

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Recommended Reading

Main Text:

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Business Studies – G Whitehead (Butterworth Heinemann)

Indicative Text:

Alternative Text and Further Reading: