Businesses: Why They Exist

Year 7 Business Studies Understanding Types and Functions Australian Context

Learning Objectives

Describe why businesses exist in Australia Identify different types of businesses Explain how businesses meet consumer needs Apply understanding through real scenarios

Think About It...

Why do you think businesses exist? What businesses do you use every day? How do they help you and your family?

Why Businesses Exist

Produce goods and services people need Make profit for owners and shareholders Provide employment opportunities Meet consumer needs and wants Contribute to economic growth

Goods vs Services

{"left":"Physical items you can touch and own\nFood, clothing, electronics, books\nMade in factories or grown on farms\nCan be stored and transported","right":"Intangible activities or help provided\nHaircuts, banking, education, healthcare\nPerformed by skilled workers\nCannot be stored - used immediately"}

Types of Businesses in Australia

Sole Proprietorship

Owned and operated by one person Owner makes all decisions Owner keeps all profits but also bears all risks Examples: Local plumber, corner store owner, freelance photographer

Business Scenario Challenge

Work in groups/pairs Each group gets a different business scenario Identify the business type Think, Pair, Share on them

Key Insight

Work in groups of 5 Each group gets a different business scenario Identify the business type Explain why this business exists Present your findings to the class

Your Turn -  Challenge

Find one business near your home Identify what type of business it is Explain why you think it exists Describe how it helps your community Share with the group