INTRODUCTION Study unit:
The business and its challenges
, LEARNING OUTCOMES
After completing this study unit, you sho
be able to:
1. Distinguish between the different ways of de
a sector
2. Describe an industry
3. Define the concept of business
4. Explain the reason for the existence of a bus
5. Describe the factors of production
, SECTOR (1)
A sector refers to the broad nature of activities.
Distinguish between private, state and voluntary s
Private sector is the part of the economy where individ
businesses generate profit from selling products and se
consumers. It consists of the primary, secondary and
sectors. Jobs are created by growing businesses in the
that leads to economic growth. (Boere, myne, supe
en handelaars)
Public sector includes the national, provincial a
government as well as state-owned enterprises (SO
government receives its income via many types of taxati
concerned with legislation and policies also to enhance e
activity. (Municipality: Tlokwe, Eskom, SAL,
The business and its challenges
, LEARNING OUTCOMES
After completing this study unit, you sho
be able to:
1. Distinguish between the different ways of de
a sector
2. Describe an industry
3. Define the concept of business
4. Explain the reason for the existence of a bus
5. Describe the factors of production
, SECTOR (1)
A sector refers to the broad nature of activities.
Distinguish between private, state and voluntary s
Private sector is the part of the economy where individ
businesses generate profit from selling products and se
consumers. It consists of the primary, secondary and
sectors. Jobs are created by growing businesses in the
that leads to economic growth. (Boere, myne, supe
en handelaars)
Public sector includes the national, provincial a
government as well as state-owned enterprises (SO
government receives its income via many types of taxati
concerned with legislation and policies also to enhance e
activity. (Municipality: Tlokwe, Eskom, SAL,
