How important was big business in the growth of the US economy in the years 1890 to 1919?

2274 Words May 7th, 2014 10 Pages
BUSINESS UNIT 1: Starting a Business
This section provides students with an introduction to the scope of Business Studies within the context of starting a new business. Students will be expected to have an understanding of the range of activities involved in setting up a small business.
* enterprise and entrepreneurs
* the importance of risk and rewards such as profit
* the notion of
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Students should be aware of the advantages and disadvantages of these in specific contexts.
Locating the Business
* factors influencing start-up location decisions.
The factors should include: technology, costs, infrastructure, the market and qualitative factors.
Students should understand that their relative importance may vary according to the type of business.
Employing People
* types of employees used in small businesses
* using consultants and advisors.
The types of employees should include: temporary, permanent, full-time and part-time. Students should be aware of the reasons, drawbacks and difficulties of employing people and/or using consultants and advisors.

Financial Planning
This section provides students with an understanding of key financial concepts essential for the planning of small businesses. Students will be expected to carry out calculations and to be able to interpret their results.
Calculating Costs, Revenues and Profits
* fixed, variable and total costs
* price, total revenue and profit.
Students should understand the relationships between cost, price, revenue and profits.
Using Break-Even Analysis to Make Decisions
* contribution and contribution per unit
* calculation of break-even output
* construction of break-even charts
* analysing the effects of changing variables on break-even charts.
Students should understand how start-up businesses may use contribution and
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