BUSINESS STUDIES CASE STUDIES

MACROECONOMICS  CHAPTER -1 NATIONAL INCOME AND RELATED AGGREGATES   NOTES  Final goods- Meaning: Those goods which are meant for final use and will not pass through any more stages of production or transformation are called final goods. Features:  Meant for final consumption or investment  It will not undergo any further transformation at the hand of any producer  Once it has been sold it passes out of the active economic flow  These are not meant for resale  If any good meant for intermediate but does not used in the same year and remain for another year , it qualifies for final good  It does not make any Value Addition  Example: Milk purchased by house hold , Tea Brewing Machine purchased by the restaurant Implications:  Value of the final goods are included in the Domestic as well as National Income Intermediate goods: Meaning: Those goods which are meant for resale or further production and will pass through more stages of production or transformation are...

BUSINESS STUDIES CHAPTER -1 NATURE AND PURPOSE OF BUSINESS   TYPES OF HUMAN ACTIVITIES 1.     Economic activity 2.     Non – economic activity ·       ECONOMIC ACTIVITY – The activities undertaken with the main objective of earning money and creation of wealth are known as economic activity. E.g. – working in a factory, running shop, working as a teacher etc. ·       NON-ECONOMIC ACTIVITY- The activities refer to activities undertaken with the main motive of getting psychological satisfaction e.g.-social services, charity, visiting, temple doing household work etc. Ø TYPES OF ECONOMIC ACTIVITIES – The economic activities can be classifieds in three categories. These are :- 1. BUSINESS – It refers to activities concerns with the production or purchased and sale of goods or supply of services with the main objective of earning profit. 2. PROFESSION – Profession includes those activities which required special kno...