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Business Sectors and their Environments Business Studies Grade 12 Notes, Questions and Answers

Business Sectors and their Environments Business Studies Grade 12 Notes, Questions and Answers Find all the notes, the scope of the exam, the lessons, the activities, and the questions and answers for business studies in grade 12. Through interactive information that includes questions and answers, students will be able to learn while also getting practice answering typical exam questions.

Topics under Business Sectors and their Environments

Economic Sectors
Business Environments
Business Control Over the Micro Environment
Business Control Over the Market Environment
Business Control Over Macro Environment

Three Types of Business Sectors: A Summary of the Primary, Secondary, and Tertiary Sectors

The business sector refers to the part of the economy that is concerned with producing goods and services. There are three main types of business sectors: primary, secondary, and tertiary.

Primary Sector:

The primary sector is concerned with the extraction of raw materials, such as agriculture, fishing, and mining. This sector is also known as the extractive sector, as it involves the removal of resources from the earth. For example, a farmer who grows crops or a fisherman who catches fish are both involved in the primary sector.

Secondary Sector:

The secondary sector is concerned with the processing of raw materials into finished goods, such as manufacturing, construction, and energy production. This sector is also known as the production sector, as it involves the creation of goods through the use of raw materials. For example, a car manufacturer or a construction company are both involved in the secondary sector.

Tertiary Sector:

The tertiary sector is concerned with the provision of services, such as retail, healthcare, and finance. This sector is also known as the service sector, as it involves the provision of services to consumers. For example, a hospital, a bank, or a retail store are all involved in the tertiary sector.

Business Environment:

The business environment refers to the external factors that affect the operations of a business. There are three main types of business environments: macro, market, and micro.

The macro-environment includes factors such as the economy, political system, and social trends, while
The market environment includes factors such as competition and consumer preferences.
The micro-environment includes factors such as the company’s employees, suppliers, and customers.

The extent to which a business may control each of these environments varies, with businesses having more control over the micro environment and less control over the macro environment.

Business Challenges:

Businesses face a variety of challenges in each of the three business environments. For example:

In the macro environment, a business may face challenges such as economic downturns or changes in government policies.
In the market environment, a business may face challenges such as increased competition or changes in consumer preferences.
In the micro environment, a business may face challenges such as employee turnover or supply chain disruptions.

The primary, secondary, and tertiary sectors represent the different parts of the economy that are involved in the production of goods and services. Understanding the business environment and the challenges that businesses face in each environment is important for success in the business world. The extent of control that businesses have over each environment varies, with businesses having more control over the micro environment and less control over the macro environment.

Exam Quizzes (Questions & Answers) Covered under this Section

THREE types of business sectors
a business sector from given scenarios
the business environment from given scenarios and state the extent to which a business may control each of these environments
business challenge according to the THREE business environments from given scenarios
the extent of control businesses have over each environment e.g micro: full control, market: little control, macro: no control

How to Pass Business Studies Grade 12 with distinctions

One of the most significant accomplishments in your academic career is passing matric. It provides access to a wide range of post secondary options and employment possibilities. Use our best study advice to complete your matriculation, and you’ll succeed with flying colors.

READ => How to get your matric results step by step

Attend class
Ask questions
Make notes
Study
Practice
Study groups
Extra class
Motivation
Complete assessments
Prepare for the Exams in due time

Business Sectors and their Environments Business Studies Grade 12 Notes, Questions and Answers