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DELTA STATE
BUSINESS STUDIES
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(1a)
Production is the process of creating goods and services to satisfy the needs and wants of customers.
(1b)
(i) Land – This includes all natural resources used in production, such as land, water, oil, and minerals.
(ii) Labor – This includes all the human effort used in production, such as workers’ skills and time
(iii) Capital – This includes the machinery, tools, and other equipment used in production.
(iv) Entrepreneurship – This refers to the ability and willingness of individuals to start and manage a business venture.
(1c)
(i) Capital – For example, a computer used in a software development company is a form of capital. Additionally, a production plant used for manufacturing goods is also capital.
(ii) Labor – For example, a writer employed in a publishing company is labor. Additionally, a construction worker working on a building site is also labor.
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(2a)
Office equipment refers to the tools and machinery used in an office to facilitate work processes.
(2b)
(i) Computer
(ii) Printer
(iii) Telephone
(iv) Photocopier
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(3a)
A typewriter is an analog mechanical device used for producing printed characters similar to those produced by a printer.
(3b)
(i) Keyboard
(ii) Carriage
(iii) Ribbon
(iv) Platen
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(4a)
Shorthand is a quick method of writing that uses a system of abbreviated symbols and phrases to record spoken words or dictation.
(4b)
(i) Time-saving – Shorthand allows the transcriber to capture more words or ideas in a shorter time, which can save time and increase productivity.
(ii) Accuracy – The use of standardized shorthand symbols and phrases ensures consistency and accuracy in the final transcription. It also enables the writer to produce neat and legible notes.
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