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Business Studies Mid-Term Assignment (Levels of Economic Activity)

This document outlines a business studies mid-term assignment that includes 7 activities related to levels of economic activity. Activity 1 asks students to identify primary, secondary and tertiary sectors. Activity 2 asks students to determine if countries are developed or developing based on employment data. Activity 3 asks students to list 5 service businesses. Activity 4 asks students to categorize stakeholders. Activity 5 includes calculating missing values in an accounting equation table. Activity 6 asks students to create an example to identify opportunity cost. Activity 7 asks students to draw and label a production possibilities curve diagram.

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82 views5 pages

Business Studies Mid-Term Assignment (Levels of Economic Activity)

This document outlines a business studies mid-term assignment that includes 7 activities related to levels of economic activity. Activity 1 asks students to identify primary, secondary and tertiary sectors. Activity 2 asks students to determine if countries are developed or developing based on employment data. Activity 3 asks students to list 5 service businesses. Activity 4 asks students to categorize stakeholders. Activity 5 includes calculating missing values in an accounting equation table. Activity 6 asks students to create an example to identify opportunity cost. Activity 7 asks students to draw and label a production possibilities curve diagram.

Uploaded by

ekke
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Business Studies Mid-Term Assignment

(Levels of Economic Activity)

Activity 1. Identify what should be in the boxes on the right and on the
left of the three images at the middle

Primary Lumberjack

Secondary Wood Manufacturer

Tertiary Salesperson
Activity 2. From the table below, state which country is developed and
which is developing and why?

Country Primary Secondary Tertiary

United kingdom 2 20 78

China 44 24 32

Ghana 54 20 24

UK is developed because it has more people in the tertiary sector

China is developing because it has a high amount of people working in


the primary sector
Ghana is developing because it has more people working in the primary
sector and even less people working in the tertiary sector

Activity 3. State five service rendering business activities you know

1. Dry Cleaners
2. Post Office
3. School
4. Hospital
Activity 4 . Arrange the following stakeholders appropriately under each
of their categories.

banks, workers, community, Owners, Customers, competitors,


management & Government

Internal Stakeholder External Stakeholder


Workers Banks
Owners Community
Management Customers
Competitors
Government

Activity 5. 1. From the values in the table below, ascertain the


missing values using the accounting equation formula.

Assets ($) Owners’ equity Liability ($)


($)

1 40,000 12,000 28,000

2 75,000 50,000 25,000

3 80,000 58,700 21,300

4 100,000 65,000 35,000

5 60,000 39,000 21,000

total 355,000 223,000 130,300


40,000 - 12,000 = 28,000
75,000 - 25,000 = 50,000
58,700 + 21,300 = 80,000
100,000 - 35,000 = 65,000
60,000 - 39,000 = 21,000

2. Sum-up the total of each side.

Activity 6. Create your own example like the above and state
which is the opportunity cost.

The table below shows the list of items and prices Andre wants to
purchase with a total sum of $2,700

S/N ITEMS PRICE ($)

1 Football Boots 130

2 iPhone 13 2300

3 Apple Watch 150

4 Galaxy Buds 100

5 Jordans 200

With $2700 ( $130 + $2300 + $150 + $100) he can only buy the
first four items ( Football Boots, iPhone 13, Apple Watch and
Galaxy Buds ). The next item he will want to buy, if he had the
money, will be Jordans for $120. This is what we refer to as the
opportunity cost.

Activity 7. Draw a well labeled PPC diagram and spot and explain
you’re A and B points

This curve explains the fact that as more of good ‘B’ is produced,
less of product ‘A’, is likely to be produced

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