Business Studies Questions and Answers - Grade 7 Opener Exams Term 2 2023 Set 4

QUESTIONS

1. Name types of business activities. (4 marks)
2. How does the government benefit from business activities? (3 marks)
3. State the characteristics of services. (5 marks)
4. Name examples of human wants. (3 marks)
5. What are human needs? (1 mark)
6. What are the importance of goods and services? (5 marks)
7. What are the main characteristics of economic resources? (3 marks)
8. How can one use resources sustainably? (3 marks)
9. What is the role of communication in business? (2 marks)
10. What does ICT mean? (1 mark)
11. What is the importance of effective communication in business? (2 marks)
    
    For questions 12-17, identify the key security features in the parts labeled (6 marks)
    
    
12. .............................................................................
13. .............................................................................
14. .............................................................................
15. .............................................................................
16. .............................................................................
17. .............................................................................
18. Write a personal goal. (1 mark)
19. Name careers related to talents and abilities. (2 marks)
20. What needs to be there for communication to happen? (4 marks)
    
    For questions 21-24, name the rewards of the following factors of production (4 marks)
21. Land
22. Labour
23. Entrepreneurship
24. Capital
25. Who is an entrepreneur? (1 mark) 

MARKING SCHEME

1. Extraction, Processing, Manufacturing 
2. It earns revenue for the government; It reduces foreign dominance of the economy
3.                          
   • They cannot be seen or touched,
   • They cannot change in value.
   • They cannot be separated from the provider
4. Television, Mobile phones, Making trips
5. These are things human beings require in order to survive. Life cannot go on without them.
6. They are used to satisfy human needs and wants, Producer goods are used in producing other goods
7. They have money value, They can change ownership. They have alternative uses, They have utility
8. Afforestation, Re-afforestation, Protecting water catchment areas
9.              
   • It enables proper co-ordination between different departments in an organisation
   • It enables a business to make amangements for activities such as meeting to take place
   • It enables a business to give instructions on the work to be done
   • It enables a business to get new ideas and make sure they are Implemented as Planned
10. Information Communication and Technology
11.              
    • Ensures smooth running of business operations
    • It enhances good customer relations through feedback
    • It helps in product promotion
    • It enables a business to create a wider market
12. coat of arms
13. security thread
14. KICC building
15. Theme of agriculture
16.  Value of the note
17. Theme of livestock farming 
18. Assess
19. Sports, singing, dancing,
20. Message, Receiver, Sender, Channel
21. Rent
22. Wages or salaries
23. profit
24. interest
25. This is a person who sees an opportunity in the market and organizes all factors in to start and run a business.