MYP 5 Homework Functions of a Business and Production Sectors MYP5 002-11-09-17

MYP 5 THE MAIN FUNCTIONS OF BUSINESS HOMEWORK MYP5 003-11-09-17
HOMEWORK
QUESTION 1.1.1 The business of Education
Education is a big business. Schools can earn revenue from numerous sources, such as tuition fees (for fee paying schools), grants from the government and fund raising events. They might also lease out their facilities (such as classrooms, sports hall, drama studios and swimming pool) during weekends and school holidays. Schools use the revenues to finance their cost of production, such as staff salaries and the maintenance of the buildings. Parents might also have to pay for items such as school uniform, textbooks, stationery, sports equipment and food.
(a)    Distinguish between revenue and costs of production.
(b)    Examine how business functions operate in an organization such as a school. [1]












QUESTION 1.1.2 Production Sectors
Study the data below and answer the questions that follow. A, B and C represent three countries: Germany, Pakistan and China (although not necessarily in that order).
STRUCTURE OF EMPLOYMENT (%)
A
B
C
Agriculture
9
1
22
Manufacturing
47
28
24
Services
44
71
54

(a)    Identify the countries A, B and C.
(b)    Use the data in the table to justify your answer to part (a). [2]

Bibliography
Hoang, P. (2014). Business Management. Victoria: IBID Press.




[1] (Hoang, 2014)
[2] (Hoang, 2014)

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