{"id":1909,"date":"2020-12-13T13:55:19","date_gmt":"2020-12-13T12:55:19","guid":{"rendered":"https:\/\/www.maltaseminary.org\/wp\/?p=1909"},"modified":"2020-12-17T09:28:54","modified_gmt":"2020-12-17T08:28:54","slug":"introducing-business-studies","status":"publish","type":"post","link":"https:\/\/www.maltaseminary.org\/?p=1909","title":{"rendered":"Introducing Business Studies"},"content":{"rendered":"\n<p style=\"text-align:right\" class=\"has-medium-font-size\"><strong><em>contributed by Cristian Tonna, Year 11<\/em><\/strong><\/p>\n\n\n\n<p>In Business Studies, one studies the basic knowledge that someone\ninterested in opening up a business in the near future, needs to know. This\nknowledge will also help you in your ordinary day-to-day life. It can help you when\nyou face circumstances such as taking a loan. You will be better informed! Some\nbasic knowledge studied throughout this subject, involves the definition of\nwhat is a business activity?<\/p>\n\n\n\n<p>A business activity is basically <strong>any kind of activity which provides\ngoods or services at a profit. <\/strong>The main aim of a business is always to <strong>maximise\nprofits.<\/strong><\/p>\n\n\n\n<p>So what are goods and services? Goods refers to <strong>anything that is\ntangible, meaning that it can be touched, and thus it can be passed on to\nsomeone else.<\/strong> Such goods can include a computer bought to be used by the\nworkers. Whilst services are the contrary of goods, they <strong>aren&#8217;t tangible,\nand thus they cannot be passed on to someone else. <\/strong>Such services can\ninclude advertising.<\/p>\n\n\n\n<p>Another question answered throughout the studying of this subject is\nwhat should be considered by someone opening up a business? There <strong>are four\nmain important factors<\/strong> that must be considered. These are <strong>land, labour,\ncapital and entrepreneur. <\/strong>Altough all of these factors play an important\nrole, the <strong>last one is the main and most important<\/strong>, as without it none of\nthe business activity can take place.<\/p>\n\n\n\n<p>So what is the meaning of these factors? \u2018Land\u2019 refers to the <strong>geographical\nspace where a business activity takes place<\/strong>, such as office premises. \u2018Labour\u2019\nrefers <strong>to the workers that do all of the job of the day-to-day running of\nthe business<\/strong>. \u2018Capital\u2019 refers to <strong>the money and assets that a business\nuses in order to operate<\/strong>, such as machinery. And last but not least, the \u2018entrepreneur\u2019\nis <strong>the person who takes all of the risks by investing his own money and\nassets.<\/strong> The reward that he receives is the <strong>profit<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"848\" height=\"465\" src=\"https:\/\/www.maltaseminary.org\/wp\/wp-content\/uploads\/2020\/12\/business-passion.png\" alt=\"\" class=\"wp-image-1911\" srcset=\"https:\/\/www.maltaseminary.org\/wp-content\/uploads\/2020\/12\/business-passion.png 848w, https:\/\/www.maltaseminary.org\/wp-content\/uploads\/2020\/12\/business-passion-300x165.png 300w, https:\/\/www.maltaseminary.org\/wp-content\/uploads\/2020\/12\/business-passion-768x421.png 768w, https:\/\/www.maltaseminary.org\/wp-content\/uploads\/2020\/12\/business-passion-360x197.png 360w\" sizes=\"auto, (max-width: 848px) 100vw, 848px\" \/><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>contributed by Cristian Tonna, Year 11 In Business Studies, one studies the basic knowledge that someone interested in opening up a business in the near future, needs to know. This knowledge will also help you in your ordinary day-to-day life. <a href=\"https:\/\/www.maltaseminary.org\/?p=1909\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":1910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=\/wp\/v2\/posts\/1909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1909"}],"version-history":[{"count":1,"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=\/wp\/v2\/posts\/1909\/revisions"}],"predecessor-version":[{"id":1912,"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=\/wp\/v2\/posts\/1909\/revisions\/1912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=\/wp\/v2\/media\/1910"}],"wp:attachment":[{"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.maltaseminary.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}