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JSS1: BUSINESS STUDIES - 1ST TERM

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  1. Introduction to Business Studies | Week 1
    4 Topics
    |
    1 Quiz
  2. The Office | Week 2
    4 Topics
    |
    1 Quiz
  3. The Clerical Staff | Week 3
    4 Topics
    |
    1 Quiz
  4. Right Attitude to Work | Week 4
    5 Topics
    |
    1 Quiz
  5. The Departments in an Office or Organisation | Week 5
    3 Topics
    |
    1 Quiz
  6. Introduction to Commerce | Week 6
    3 Topics
    |
    1 Quiz
  7. Division of Commerce | Week 7
    5 Topics
    |
    1 Quiz
  8. Production | Week 8
    5 Topics
    |
    1 Quiz
  9. Factors of Production | Week 9
    2 Topics
    |
    1 Quiz



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Factors of production are essential resources that make the activities of production possible. No productive activity can take place without any of them.

There are four factors of production: land, capital, labour, and entrepreneur.

A businessman, who wishes to establish a cement factory, will need capital (money to start the business), land (a place to erect the factory), labour (workers to work in the factory), and entrepreneurs (the businessmen who will organize and coordinate the activities).

factors of production

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