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What is Business Studies?
Business studies is the study of how businesses are set up, financed,
organised and controlled, how people are employed, managed and paid, how
goods are developed, produced and sold, how goods and services are
priced and how the local, national and international government help or
hinder businesses.
In studying the setting up of a business there are many aspects that
need to be considered. Such as the type of business ownerships which
are suitable for the entrepreneur, where the capital will be coming
from, what goods or services could be considered to sell and where the
business should be located. The extensive amount of research, which is
carried out before the business operates, is also studied.
There are many sources of finance open to the entrepreneur, which also
need to be studied in depth. The business owner has to set the right
price for its goods or services – a price which is of convenience to the
consumer and which is affordable for the owner. This is possible by
using break-even analysis, and again market research. Owners …