Candidates are required to apply their understanding to a variety of simple business situations and should be able to make simple decisions based upon the analysis and evaluation of information provided.
|Production of goods and services||The meaning of production;|
The main methods of production;
How technology has changed production methods.
|Costs, scale of production and break-even analysis||Identify and classify costs;|
Economics and diseconomies of scale;
|Achieving quality production||•What quality means and why it is important for all businesses|
•The concept of quality control and how businesses implement quality control
•The concept of quality assurance and how this can be implemented
|Location decisions||•Factors relevant to the location decision of manufacturing businesses and service businesses;|
•Factors that a business could consider when deciding which country to locate operations in;
•The role of legal controls on location decisions;
•Recommend and justify an appropriate location for a business in given circumstances.