- Physical resources
- Buildings
- Motor vehicles
- Machines
- Furnitures
- Equipment
- Importance of entrepreneurship in a country
- Creates employment
- Promotes innovation and creativity
- Enhance utilisation of available resources
- Generates personal/national income
- Creation of a varirty of goods
- promote new technology
- Enhances development of enterprising culture in the country
- Enables formation of capital/wealth
- Personal attributes of a secretary
- Good personal grooming
- High standards of health
- Should manintain an upright and energetic posture proper walking styles/sitting styles
- Should be orderly in the he/she performs and organises his or her work
- Circumstances under which a credit note is issued
- When invoice is overcharged
- When goods are returned due to damage
- When goods not supplied are charged for
- Where goods not ordered for are returned
- Where the buyer returns empty packing containers for which he had charged
- Where a deserving discount is not allowed in the invoice
- Challenges facing cooperative societies
- Withdrawal of members causing financial strains to the society
- Smiall contribution by members leading to financial difficulties
- Does not attract high quality staff because of low pay
- Members are not well informed hence do not take part in the affairs of the society
- Manangement committee ar en ot qualified
- Suffer from unnecessary polituical interfererence
- Slow decision making procvess
- They are flexible
- May suffer from mismanagement/embezzlement of funds
- Benefits of containeristaion
- Carry large quantities
- Minimal damage to goods
- Goods are safe from theft and pilferage
- Low insurance premiums
- Ease of loading and offloading due to use of handling equipment
- Minimal handling cost due use of modern technology
- Containers are fitted with appropriate handling services
- Possible to transport speciliased goods using specially designed containers
- Advantages of E-mail
- Relatively cheap
- Relatively fast
- It is confidential
- Instant feedback
- User can access other information such as advertising
- It is relatively easy to retrieve information
- It is universal
- Detailed information can be sent
- The information can be used for futur reference
- Factors that may limit the effectiveness of a warehouse
- Inadequate premises to accommodate goods
- Poor/ionadequate handling equipment/machines
- Incovenient location to users
- Lack of special facilities to cater for special goods
- Unqualified and incompetent staff
- Poor security
- Non competitive with legal requiremnt
- Poor inventory control
- Movement along a supply curve and shift of supply curve
movement shift Only one supply curve involved Involves two supply curves Caused by change in the price of a commodty Caused by other factors besides the prices Is the quantity supplies that changes It is the supply that changes A different quantity is supplied only at a different price A differnt quantity is supplied at the same price as before Can be traced up and dpwn the smae curve Cause the entire supply curve to move either to the left or to the right - Effects of production activities on the envrionment
- Depletion of productive resources
- Degradation of the environment
- Pollution of air/water
- Rise in crime and anti-social activities
- Diverse effects on the ozone layer
- Disease and poor health caused by hadnling of chemicals
- Psychological diseases e.g. stress
- Noise poluution causing hearing problems
- Monopoly vs monopolistic competition
Monopoly Monopolistic Exists only one single seller Exists more than one firm/seller No close substitutes Products are differentiated Exercises full control of the market No single firm controls a significant proportion of the total market The firm is the price giver/setter A firm must exercise some caution before changing the price Demand curve steeply slopes from left to right The demand curve slopes gently from left to right - Factors that influences the choice of distribution channels
- Nature of the product
- Location of the market
- Cost of the channel
- Governemet policy
- The size of the market
- Nature of competition
- Need for after ssale service
- Amount of capital/finances
- Volume of goods produced
- Financial ability of the consumers
- Limitations of using National income statistics to measure standard of living
- Data being used may not be accurate
- National income figures does not reflect the distribution of income
- Consumption patterns and lifestyles are not constant
- It may not show the proportion of income spent on productive or on productive activities
- A high income could be at the expenes of citizens social welfare
- Figures may not reflect depreciation/appreciation assets
-
- Increase
- Decrease
- No effect
- Decrease
-
- Factors of demand for money
- Level of individual income
- Price level/inflation
- Interest rate
- Availability of credit facilities
- Individual's style of life/spending habits
- Features of economic resources
- They are scarce/limited
- Have monetary value
- Unevenly distributed
- Can be combined
- Have utility/usefulness
- Can be tranferred form one person to another
- Disadvantages of division of labor
- Lead to monotony resulting to boredom
- Hinders creativity
- Makes a worker dependant on one trade
- Encourage the use of machines which may lead to unemployment
- May make a country dependent on other countries
- Bring people together and this lead to social problem
- Lack of pride in the final product
- If a few people stop working the whople production process stops
- Advantages of government involvement in business activities
- Provison of essential goos/services
- Provison of large capital invetsment
- Protection of citizens from exploitation
- Stimulation of economic development
- Create employment
- To generate government reveneue
- Stabilistaion of the ecnomy
- Promotre equity in distribution of resources
- Control use of resources
- Maintenance of law and order
- Promotion of best practices
- Reduce foreign dominance
- Promotion of entrepreneural culture
- Promote investment in the country
- Re insurance circumstance
- When the value of the property it has insured is high
- When the chance of the risk occuring is very high
- When an insurance company has covered many risks
- Incase there is need for insurance comapny to spread the risk
- When the government policy makes it mandatory
-
- Competitive advertising
- Advertising which is aimed at convincing a customer to prefer a particular product
- Celebrity Advertising
- Advertising where a famous person is used to endorse a product by identifying with it e.g Nameless(muscles) yego etc
- Competitive advertising
-
- Income per head/per capita income
- Optimum population
- Under population
- Over population
- Jan 1: Business started with cash sh. 100000 as capital
2: Deposited cash from cash till o to the business account sh. 50,000
jan 8: Purchased stationery sh 10,000 and paid in cash
10: Purchased stationery worth shs. 4,000 and paid by cheque -
- Cash receipt
- Outgoing credit note
- Incoming invoice/purchases invoice
- Outgoing invoice/sales invoice
- 2001: 1069/1000 × 1000 = 106.9
2002: 1162/1000 × 1000 = 116.2
2003: 1200/1000 × 1000 = 120
2004: 1325/1000 × 1000 = 132.5
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