Explain the following as used in satisfaction of human wants.
-Utility
-Producer goods
-Scarcity and choice
-Scale of preference (Answered) Outline four factors that may account for predominance of direct production in a country. (Answered) Differentiate between shares and debentures. (Answered) What do you understand by the following terms?
-free goods
-Producer goods
-Public goods
-Non-material goods (Answered) List four functions of the Kenya Bureau of statistics. (Answered) State four factors that limit the number of entrepreneurs in an area.
(Answered) The figure below shows an increase in supply for a commodity from ss to s1s1
State four possible causes that have led to this situation.
(Answered) Outline four reasons why inland water transport is not too popular as a means of transport in Kenya.
(Answered) Outline four types of errors that may cause a trial balance not to balance (Answered) Highlight four circumstances under which a firm may acquire oligopoly power (Answered) Outline four importance uses of measuring national income in a country. (Answered) Outline factors that will influence choice of an office layout (Answered) Give four ways in which consumers may benefit when producers compete in product promotion (Answered) The following details were extracted from the books of Omino enterprises for the year ended 31st dec 2009
Opening capital sh. 105,000
Capital introduced sh 15,000
Drawings sh. 6,000
Closing capital sh. 135,000
Determine the profit or loss for the year.
(Answered) In the below spaces, fill by stating whether each of the following transactions will increase, decrease or have no effect to the capital of the business
a)The business made profit
b)Bought stock of goods
c)Withdrawal of stock for own use.
d)Paid creditors by giving up an old machine (Answered) State four principles of co-operatives movement in Kenya. (Answered) List four documents used in home trade in the order stage. (Answered) Mutua and Mutuku both have taken life insurance policies. Outline the reasons why the two may not pay the same amounts as premiums (Answered) Highlight four disadvantages of ageing population (Answered) Highlight four benefits that may occur to an organization that practices effective communication (Answered) State four advantages of bonded warehouse to the government. (Answered) Identify the factors that may lead to an increase of demand of a product in the market. (Answered) The following are some of the source documents used in business
i)Credit note received
ii)Invoice issued
iii)Credit note issued
iv)Cash sale slip
Match each of the following books of original entry with relevant source document
a) Cash book
b) Sales day book
c) Return inward day book
d) Return outward day book (Answered) Highlight four services that the central bank of Kenya may offer as a banker to commercial bank. (Answered) Define the following terms as used in business studies;
i)Economics
ii)Entrepreneurship
iii)Opportunity Cost
iv)Scale of preference. (Answered) Highlight four reasons why food is an important basic need. (Answered) Outline four importance of warehouse to a consumer. (Answered) Outline four requirements for one start a limited liability company as one of the forms of business units (Answered) Highlight four factors a firm may take into account when deciding on the products to produce. (Answered) Highlight four ways in which entrepreneurs can observe ethics in the management of their business (Answered)
