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<=KNEC Craft Certificate in Human Resource Management Module 1: Commerce past paper July 2023
State three levels of production.
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Questions List:
1. The meaning of the term Commerce.
2. State three levels of production.
3. List four advantages of operating a small scale retail shop.
4. State three similarities between a bill of exchange and a promissory note.
5. List three characteristics of a public corporation.
6. Distinguish between the terms banking and bank as used in financial transactions.
7. State three elements of transport considered when moving goods and services from one place to another.
8. State three factors considered when determining the amount of insurance premium.
9. List three types of private warehouse.
10. State the meaning of the following terms as used in stock exchange: (i) Share; (ii) Stock holder.
11. State two ways in which the government regulates commercial activities in the country.
12. State two challenges of operating an online store as an emerging trend in business.
13. Explain four reasons for studying Commerce.
14. Define the term entrepreneurship as a factor of production.
15. Explain four benefits of division of labour in production.
16. Explain the meaning of international trade.
17. Explain four ways in which home trade may contribute to the growth of a country's economy.
18. Highlight four circumstances under which Cash With Order (CWO) is used as a term of payment in home trade.
19. Outline four reasons why savings and credit co-operatives are popular in Kenya.
20. Explain the meaning of interest as used in business transactions.
21. Explain four factors that may determine the amount of money held by an individual for speculative motives.
22. Highlight four advantages of pipe as a means of transporting oil.
23. Explain the principle of utmost good faith in insurance.
24. Describe the procedure followed in taking an insurance policy.
25. Explain four features that a warehouse should have to function efficiently and effectively.
26. Explain the term security as used in stock exchange.
27. Outline four roles of the Nairobi Securities Exchange (NSE).
1. The meaning of the term Commerce.
2. State three levels of production.
3. List four advantages of operating a small scale retail shop.
4. State three similarities between a bill of exchange and a promissory note.
5. List three characteristics of a public corporation.
6. Distinguish between the terms banking and bank as used in financial transactions.
7. State three elements of transport considered when moving goods and services from one place to another.
8. State three factors considered when determining the amount of insurance premium.
9. List three types of private warehouse.
10. State the meaning of the following terms as used in stock exchange: (i) Share; (ii) Stock holder.
11. State two ways in which the government regulates commercial activities in the country.
12. State two challenges of operating an online store as an emerging trend in business.
13. Explain four reasons for studying Commerce.
14. Define the term entrepreneurship as a factor of production.
15. Explain four benefits of division of labour in production.
16. Explain the meaning of international trade.
17. Explain four ways in which home trade may contribute to the growth of a country's economy.
18. Highlight four circumstances under which Cash With Order (CWO) is used as a term of payment in home trade.
19. Outline four reasons why savings and credit co-operatives are popular in Kenya.
20. Explain the meaning of interest as used in business transactions.
21. Explain four factors that may determine the amount of money held by an individual for speculative motives.
22. Highlight four advantages of pipe as a means of transporting oil.
23. Explain the principle of utmost good faith in insurance.
24. Describe the procedure followed in taking an insurance policy.
25. Explain four features that a warehouse should have to function efficiently and effectively.
26. Explain the term security as used in stock exchange.
27. Outline four roles of the Nairobi Securities Exchange (NSE).
