Lesson Notes By Weeks and Term - Junior Secondary School 2

TERM: 2nd TERM

SUBJECT: BUSINESS STUDIES                                

CLASS:  JSS 2

REFERENCE

• WABP Junior Secondary Business Studies 2 by Egbe Ehiametalor et’al.

WEEK THREE

TOPIC: BUSINESS OPPORTUNITY

CONTENT

• Meaning
• Types (local, national and international).

Business Opportunity refers to the chance an individual or an organization has at a particular time within an environment to engage in production of goods or rendering of services in order to earn a living or means of livelihood. When there is business opportunity, profit maximization is the ultimate aim.

It is a packaged business investment allows the individuals to begin a business. It offers tools or training to help start one’s own business. This is usually at a lower cost and with few restrictions.

EVALUATION

• What is business opportunities?

TYPES OF BUSINESS OPPORTUNITIES:

1. Local business opportunities: These are opportunities available for people living within a particular location when they tap into the natural resources endowed with such places. Example: people that live in areas where there are large body of water are mostly fishermen while northerners farmers grow pepper, onion, beans etc.
2. National business opportunities: These are business opportunities provided by the government of a county when available resources of such countries are converted into finished goods and services. It leads to creation of job opportunities for citizens and also improvement in the standard of living. For example, crude oil, gold, bitumen and agricultural produce found in different places which are processed and converted into different finished goods.

3. International business studies: These are business opportunities available when goods of a particular country are exported to other country in exchange of imported goods and services. For example when primary products are exported in exchange of finished goods in form of machines and other industrial equipments.

Reference: Internet.

EVALUATION

Mention three types of business opportunities. 

GENERAL EVALUATION

1. Mention four areas that are covered by business studies.
2. List five departments in an organization.
3. Explain what you understand by business opportunity.
4. How many vowels do shorthand have?
5. What is sole proprietorship?    

WEEKEND ASSIGNMENT

1.----- refers to as tools to help start one’s own business at a lower cost.(a) trade (b) market (c) business pportunity.

2. When individual tap into the available resources in order to earn a living, it is called ---- opportunity (a) international (b) national (c) entrepot (d) local.
3. When goods are exported in exchange for another goods from other country, that is ----opportunity (a) local (b) national (c) international (d) entrepot.
4. When an individual becomes the owner of his business, it is called ----- (a) an entrepreneur (b) an employee (c) a worker (d) an accountant.
5. One of these is an exception to the types of business opportunity (a) community (b) national (c) international (d) local.

THEORY

1. Define business opportunity.
2. Mention and explain three types of business opportunity.