Business Studies Form One Notes (All Topics) – Complete Guide
Bussiness Studies Form One Full Notes for new Syllabus 2025 by TIE – Tanzania Institute of Education. A business is an economic activity engaged in producing or buying and selling of goods and services with the aim of earning profit through satisfying customers’ needs. It offers people with a variety of things they need for survival, desire to own or use.
In the society, there are various businesses both large and small that take place in different places. Small businesses are such as small retail shops, selling of fresh fruits or items on street and carpentry.
Moreover, there are also businesses that provide services to their customers such as photography, makeup artistic, content video creation, transcribing and translating. On the other hand, large scale businesses include supermarkets, multiple shops, automotive, mobile phone companies, textile, ship building and sugar industries.
In this level, concentration is on the small scale businesses.
Business processes
Business activities involve the processes that an organisation engages in, to achieve its goals. These processes are production, distribution, exchange and consumption.
They are explained as follows:
Production
This is a process of transforming raw materials into finished products to satisfy human needs and wants. For example, a tailor transforms a fabric into a type of a cloth such as a trouser, shirt, dress or curtains.
Distribution
This is a process of moving goods and services from where they are produced to where they are needed for consumption.
For example, the transportation of manufactured sugar from Mtibwa Sugar Company in Morogoro Region to wholesalers, retailers or consumers located in various regions of Tanzania or to other countries.
Consumption
This is the act of using goods and services to satisfy human needs and wants. In everyday life, individuals consume different kinds of goods and services to satisfy their needs and wants. For instance, people consume food to satisfy hunger, and buy cars for transportation.
Moreover, individuals consume different services provided by doctors, teachers, the military, taxi drivers, entertainers and tourist guides.
Bussiness Studies Form One Full Notes
Topic 1: Introduction to Business Studies
Topic 2: Entrepreneurship
Topic 3: Sole Proprietorship