← Business Studies syllabus

SingaporeBusiness Studies

Understanding Business Activity

5 dot points across 5 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

What are businesses trying to achieve, who has a stake in them, and what happens when those groups want different things?

Explain the objectives a business may set, the meaning and aims of the main stakeholder groups, and how the objectives of stakeholders can conflict
A focused answer to the O-Level Business Studies outcome on objectives and stakeholders. Common business objectives, the aims of owners, workers, customers, suppliers, government and the community, and how stakeholder objectives can conflict.
8 min answer →

How do we group businesses by the kind of work they do, and why does the mix of sectors change as a country develops?

Classify business activity into the primary, secondary and tertiary sectors, explain the chain of production, and describe how the relative importance of sectors changes
A focused answer to the O-Level Business Studies outcome on classifying businesses. The primary, secondary and tertiary sectors, the chain of production, deindustrialisation, and why the mix of sectors changes as an economy develops.
7 min answer →

What does an entrepreneur do, why do so many start-ups fail, and how does a business plan improve the odds of success?

Describe the characteristics and role of an entrepreneur, the contents and purpose of a business plan, the reasons businesses succeed or fail, and how governments support enterprise
A focused answer to the O-Level Business Studies outcome on enterprise. The characteristics and role of an entrepreneur, the contents and purpose of a business plan, why start-ups succeed or fail, and how governments support new enterprise.
8 min answer →

How do we measure how big a business is, why do firms want to grow, and why do some choose to stay small?

Compare the ways of measuring the size of a business, explain why and how businesses grow, the difference between internal and external growth, and why some firms stay small
A focused answer to the O-Level Business Studies outcome on size and growth. Ways to measure business size, why firms grow, internal versus external growth (mergers and takeovers), and why many businesses choose to stay small.
8 min answer →

Why do businesses exist, and how do they add value as they turn inputs into goods and services people want?

Explain the purpose of business activity, the meaning of needs and wants, scarcity and opportunity cost, the factors of production, and how a business adds value
A focused answer to the O-Level Business Studies outcome on why businesses exist. Needs and wants, scarcity and opportunity cost, the four factors of production, and how a business adds value by turning inputs into outputs that customers will pay for.
8 min answer →