Business Studies, Essential Revision Notes

Contents

Chapter 1:How to write a letter 4

2nd paragraph….. 4

Chapter 2: Marketing 6

Chapter 3 People at Work 9

Self-Employment 10

Employer 10

Industrial Relations 12

Chapter 4:Personal banking 17

Chapter 5: The Private Limited Company 19

Chapter 6 Assessing a business 21

Profitability 21

Liquidity 22

Efficiency 22

Chapter 7 : Borrowing 24

Chapter 8: Business Insurance 25

Chapter 9 Chain of production 27

1.Primary Production 27

2.Secondary Production 27

3.Tertiary Production 27

Channels of Distribution 28

Chapter 10 The National Budget 29

Current Income 29

Capital Income 29

Chapter 11 Economic Framework 31

Chapter 12 Foreign Trade 36

BALANCE OF TRADE 37

Examples 41

Chapter 13:Club Accounts 42

Income & Expenditure Account 42

Balance Sheet 42

Chapter 14:Final Accounts 44

Chapter 15: Delivery System 48

Chapter 16 : Forms of Business Ownership 50

Sole Trader 50

Chapter 1: How to write a letter

  • Writing a letter can be easy if you follow a few simple rules.
  • Take your time and think carefully about WHO you are writing to.

1. Starting off…..

  • Correct addresses: YOUR address (right)
  • Date
  • Their address (left - but only if it is an official letter, not personal)
  • Re:
  • Dear Sir or Madam ( or their actual name…Jim, Anne,Mr.Jones, Miss.Peters,
  • Indent (bring it in a bit) the first word under ‘Madam’

2. 1st paragraph….

  • Why are you writing to them...”I am writing to you to because…..”
  • Explain who YOU are….
  • Be polite! “I hope you don’t mind me writing to you but I had tell you about..”
  • Be strong (If it is a letter of complaint) eg.” I must inform you that I am not happy with….”

3. 2nd paragraph…..


This is the MAIN section of your letter

  • You can have more than one paragraph
  • If it is a persuasive letter, then take 1 or 2 points of persuasion for each paragraph
  • Don’t make one enormous paragraph- it looks boring!
  • Use connectives (firstly, secondly, next,…)
  • State each point, then back it up eg. I believe Italy will win the World Cup because they have extreme talent and have greater fitness.
  • Offer your own opinion on things. eg. I ...

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