Introduction to BUS studies Flashcards
What is a business?
A business is the organised efforts and activities of an individual to produce and sell goods and services that satisfy society’s needs for a profit.
What are the different types of income?
Salary, Wages, Commission & Bonus.
What is a salary?
Salary is a fixed regular payment, typically paid on a monthly basis.
What is a wage?
A wage is a fixed regular payment earned for work or service, typically paid on a daily or weekly basis.
What is a commission?
A commission is the amount of money an employee earns by selling a good or service.
What is a bonus?
A bonus is an extra amount of money paid to an employee as a reward for excellent work.
What is business studies?
Business studies are the study of how individuals and groups of people organize and plan to create and develop goods to satisfy society’s needs for a profit.
Why is studying BUS STUDIES important?
It helps individuals to make better
investment decisions.
It provides us with the skills of calculating
profit.
It provides the academic knowledge and skills to pursue global career opportunities.
