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 Form 1 Business Studies: Business and its environment online lessons

Types of business activities

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Answer Text:
TYPES OF BUSINESS ACTIVITIES:
-Business activities: are activities which involve the provision of goods or services with an aim of earning a profit.
-non-business activities:Activities done without the intention of making profit.
Examples of business activities:
-Processing-This involves the conversion of raw materials into more useful products without combining it with other goods. Examples here include milling/grinding flour, refining oil, tanning of skins and hides, conversion of iron into steel e.t.c
-Manufacturing-This involves combining different raw materials to come up with one final
product. Such activities include bread baking, making a table e.t.c
-Construction-This involves building of structures such as bridges,ships,aeroplanes,houses,roads,railways e.t.c
-Distribution of goods-This refers to the activities involved in moving goods from where they are produced to where they are
needed. People who carry out distribution are called distributors. Examples of distributors are wholesalers and retailers.
-Trade-Activities in this category involve the buying and selling of goods with a view of making a profit. People involved in trade are called traders.
-Provisions of services-Activities in this category involve human acts which
could be mental or physical. These include activities such as hair-cutting, hair styling, car-washing, nursing, teaching, driving, and entertaining e.t.c.


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