(2 marks for each good quality definition) 2 1. 2. The 2008 review produced recommendations to revise the scheme, with revisions effective from August 2009. The Sections subdivide the entire spectrum of productive activities %%EOF Cambridge IGCSE Business Studies 1.2 – Classification of businesses. 1.2.1 Economic Sectors. 71 0 obj <>stream through mining) 2 2. Industry, and. Though the basic requirements of human beings are three viz., food, clothing h�b```�tf�B cB�# p1F���ĤY��q�Oy��8�@Q�m� 2YD�$4�eHY#~����0 ]Cj�都�Kx���4캿fR��$O Ru �m��&�8k��� W��@�p� Industry – It is concerned with the production or processing of goods and materials. �&(~C-N���0��-?��s�|lV��x��і%���3`�P �m��� ��TDP��8yPD 9��m]:�^C�޶2\=B6��:�IVu���Z�$: �Q�'�v��~�P-ML�4����r�|� wGj��(h���Dlf��;�E�z���y�w����]#�f�!#Jw��gt���@q��/�����g��@��D��A�N΢D1X/���U�,}�-�c�H_�4[�%q��6�CigF�\�ˌ�e6����F�#|5�1�#�r�!e. ?�Bpm�6� �L�]�r���Za��o�n&5J��҄�A��q��|[�������y�����Mώ���� ��%�Z冃�=�!�R�o�;%����5X//+j����eg�E�׵>�_F��������v)_cZ�z�����q�d�J���?l�D���Ds�S:��&����$����W������G��~ׅ�[�_ B�Tx 0 �U4(Pџ�psc�h��@��"A �������dð��grɍ��'�8hw�Cۛ��Q��``�n���qz%�^��u�d�0 uyT The business activities are broadly classified as: 1. sections, divisions, groups, classes, branches, business activities and their respective description. 9341 0 obj <> endobj Activities related to production & processing as well as activities related to rearing & reproduction of animals or other living species are all included in the industry. But it cannot be the only objective of business. 898 Activities Regular Revision Since its introduction in 2004, the TRBC steering group, consisting of internal Refinitiv and external business stakeholders, has met regularly to review the structure of the scheme. Industry deals with production and processing of materials into finished products. �7�撧0� � 0�����]�H���#>�I1�����o=�����5pq1�cQ�!��g'�����Cur�p. Good… 9369 0 obj <>stream 8r@M���Ch�17�4���R��&�J�ɕq~�����Hl!��u@�����;�B��AT1\ 0 ̯� %PDF-1.7 %���� ꮄx0 Commerce. Worksheets are very critical for every student to practice his/ her concepts. 50 0 obj <> endobj Business Studies 28 3.3 Classification of Objectives of Business It is generally believed that a business has a single objective, that is, to make profit. Commerce – It includes all those activities which are necessary for facilitating the exchange of goods and services. Classification of Business Activities - Free download as Powerpoint Presentation (.ppt / .pptx), PDF File (.pdf), Text File (.txt) or view presentation slides online. In other words, Business – Industry + Commerce On the basis of these two categories, we may classify business firms into industrial and commercial enterprises. 2.1 CLASSIFICATION OF BUSINESS ACTIVITIES The basic cause of all productive activities is the unlimited wants of human being and the need to satisfy them. 2.1 CLASSIFICATION OF BUSINESS ACTIVITIES The basic cause of all productive activities is the unlimited wants of human being and the need to satisfy them. � AI�����\{&��@��p䏹�����ĉ^i�j��Q9ݪ���!����[e��*i|����9]��l�8i����i���a�u��9�֗�׏��E��n�&�������_� Üa S�1>Z�t�JA7GO��n�w*XӜL?u���Z���]1;��;��LW�Y���x�ty�SNc3�k�F%�. Define: primary sector The sector of the economy that produces unrefined raw materials (e.g. Human wants are many and also complex in nature. Business is a wider concept and includes industry too. endstream endobj 9342 0 obj <>/Metadata 163 0 R/Pages 9337 0 R/StructTreeRoot 540 0 R/Type/Catalog>> endobj 9343 0 obj <>/MediaBox[0 0 612 792]/Parent 9338 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 9344 0 obj <>stream User guidelines The highest level of classifications is the Section, which is alphabetically coded and intended to facilitate economic analysis. endstream endobj 9345 0 obj <>stream 0 Classification of Business Activities – Industry and Commerce. Commerce generally includes all activities … Classification of Business Activities in Bosnia and Herzegovina with the EU NACE Rev 2 classification. h��W]O#7�+�E�o{��E��ۮ 2. 63 0 obj <>/Filter/FlateDecode/ID[<7A2D7BBB2B46944780BE0D97691BEBC3><7AE3E9780D8D6442B245423D6E58FD76>]/Index[50 22]/Info 49 0 R/Length 73/Prev 45783/Root 51 0 R/Size 72/Type/XRef/W[1 2 1]>>stream Though the basic requirements of human beings are three viz., food, clothing and shelter. x���Mo�@��H��9B%��dA�"��?ZCR�I�q�b�.=��w7MC;vm ����3������jV�ɉ�u5�:��K�\=\��χ���Z�-��n��_jc:�W7���)$��A��m}�-��|���X�#�m}zK� We are consuming many other things which have to be generally paid for. Worksheets have become an integral part of the education system. h�bbd```b``�� ��D�����"��$��/ �-;{�F �/׆���A���������� n $ ��)}��[g����W��g�u�ع��-ŬG+�F�3�eS��f֓4L�ǜ 4��Ϻ� h�r&��9+�0��H2�d)&E6f5�*�ca_�XǤ�t\�AK��K5���.V���~Z6��cwv��]S��L�� ��S���]3��>�No�Iwόը^�7���,�4E�H�e�Wy �9�Hyq�� ��C �婯�CS G'���?��Y{�j��M9Ls^]t��̧����~,^ �Uu�5����)��\[��n��~�=�#��Q"���O�KzhL�*$C"��[f�{�#)�x�V�� ]F)f�a��ȿU�Y�� "@SK��u endstream endobj 51 0 obj <> endobj 52 0 obj <> endobj 53 0 obj <>stream Classification of Business Complete the following questions in the time allowed by your teacher QUICK DEFINITIONS Write a short, accurate definition for each of the following key terms. CBSE Class 11 Business Studies - Classification of Business Activities. A working group constituted of representatives from all three statistical institutions in BiH have developed a new version of statistical classification of business activities in BiH entitled Classification of Business Activities in Bosnia and Herzegovina 2010. providing guidance for countries in developing national activity classifications and has become an important tool for comparing statistical data on economic activities at the international level. The purpose of industry is to create form utility by converting raw materials into useful forms of finished products. Fishing, farming Secondary Sector – Manufacture goods using raw materials from primary sector. Business & People Exam Practice Topic Sole Proprietors & Partnerships Important Bits These are two% forms of% unincorporated% business organisations. An industry may produce consumer goods or capital goods. The sectorwhere raw material gets converted into useful products is called industry. ISIC has therefore provided guidance to countries in developing national activity classifications and has become an important tool for comparing statistical data on economic activities at the interna- tional level. %PDF-1.6 %���� h��Vmk#7�+�xG ��8�'�� �`�h0�h��`�h``� ��4�`' Human wants are many and also complex in nature. Business activities are broadly classified into two categories: 1. %,v�y0iy�G^���zm$�dK8�iSjVTp��=��Ga�~[�>��g����4+���b\�����[3m�����`��m>��r9k��e����y6��h�&�bO�I�M�G 3)�¦IcA��]�&�#h5Y�����Skr&�]��E����4�J�sXv���e�ĞrJ,�d�t"�DG$�!m�&l�&���DR��uk�&\����üueީ�2���# A���Ğ��A�IHe�V.�hM��d��QĞ�:�H�� ‰,o�( Business & People Exam Practice Topic Sole Proprietors & Partnerships Important Bits These are two% forms of% unincorporated% business organisations. Primary Sector – Extracts and uses the natural resources from the earth. (iv) Commerce is a part of economics. 9351 0 obj <>/Filter/FlateDecode/ID[<1D0E5783BB0B044D918266A52D1176C7>]/Index[9341 29]/Info 9340 0 R/Length 73/Prev 706499/Root 9342 0 R/Size 9370/Type/XRef/W[1 3 1]>>stream Economics is a study of human beings as consumers and producers and it has a much wider scope than commerce. Information on the new classification of business activities in BiH In the course of time, significant changes in the structure and organization of economy including the development of new technology have occurred resulting in the establishment of new activities and new products. endstream endobj startxref h�bbd``b`� $S�� ��$��A� V#�"@,�P�H���L�Azq���0 �B Business and Profession: Business is a sum total of activities pursued with a purpose to produce and accumulate wealth. tries around the world have used ISIC as their national activity classification or have developed national classifications derived from ISIC. h�b```"�Z^�ʰ !��SuWL������lɍ�98 e.g. �Uޡ=ޑZ�l����O�Yg�n���+ ���R��,�2v���zi���TL���#�y��:�����'�t~����iu���u��>nW�nt_�6��f�A���RVcQ]}��(�׫�M��sr���u):��1d����EJzȢ!� ;�F�h��Mvq��­ܪ�v���Z��w#���l�X�0�C(�;�u�d_A�-!�;0�ÊQ,H��`W��,Pc���_�\� X>K� The computers” crunched numbers” summarizing and organizing transactions and data in the accounting, finance, and human resources areas. Classification Evolution of Information System The first business application of computers (in the mid- 1950s) performed repetitive, high-volume, transaction-computing tasks. %%EOF e.g. While pursuing the objective of earning profit, business units do keep the interest of their owners in view. endstream endobj startxref