Factors of production: land, labour, capital, and enterprise

Concept of adding value

Nature of economic activity, problem of choice and opportunity cost

Dynamic business environment

Reasons for business success or failure

Differences between local, national, international, and multinational businesses

The nature of marketing The role of marketing

Market research Purposes of market research

Identification of market features: size, growth, competitors

Identification of customer/consumer characteristics, profiles, wants, and needs

Market research data

Reliability of collected data