Business Studies Questions and Answers - Form 1 End Term 3 Exams 2021

QUESTIONS

1. State four characteristics of basic human wants (4mks)
2. Commerce is the study of trade and aids to trade highlight four aids to trade. (4mks)
3. The following are factors that influence a business tick appropriately. (4mks)
   

   Factor	Internal environment	External environment
   a) Business technology
   b) Financial
   c) Demographics
   d) Legal political

4. Outline four factors that one should consider when selecting office equipment. (4mks)
5. Outline four advantages that a business may get from division of labour. (4mks)
6. Highlight four characteristics of capital as a factor of production. (4mks)
7. Outline four ways of creating utilities. (4mks)
8. As a business student, advise your parents on three things they can do to encourage your house girl to work harder. (3mks)
9. Outline four shortcomings of direct production. (4mks)
10. Outline four sources of business ideas. (4mks)
11. State four roles played by ethics in business. (4mks)
12. Classify the following office staff as managerial, junior or subordinate staff. (4mks)
    

    Staff	Category
    Office Managers
    Drivers
    Company Secretary
    Copy Typist

13. Highlight four trends in office. (4mks)
14. Highlight four features of a good filing system. (4 marks)
15. State four factors that influence entrepreneurial practices. (4mks)
16. Highlight four advantages of itinerant traders. (4mks)
17. State three differences between open office layout and enclosed office layout. (3mks)
18. Outline four services offered by wholesalers to producers. (4mks)

MARKING SCHEME

1. State four characteristics of basic human wants (4mks)
   1. One can not do without them
   2. They are felt needs
   3. They cannot be postponed
   4. They are satisfied before secondary wants.
2. Commerce is the study of trade and aids to trade highlight four aids to trade. (4mks)
   1. Insurance
   2. Warehousing
   3. Transport
   4. Banking
   5. Communication
   6. Advertising.
3. The following are factors that influence a business tick appropriately. (4mks)
   

   Factor	Internal environment	External environment
   a) Business technology	✓
   b) Financial	✓
   c) Demographics		✓
   d) Legal political		✓

4. Outline four factors that one should consider when selecting office equipment. (4mks)
   1. Cost
   2. Adaptability.
   3. Durability.
   4. Effect on staff moral
   5. Availability of complimentary resources
   6. Availability of manpower.
   7. Availability of room.
   8. Security of equipment.
5. Outline four advantages that a business may get from division of labour. (4mks)
   1. Output for workers is greatly increased
   2. High quality products are produced
   3. Makes it possible for greater use of machines.
   4. Less mental and physical effort expended due to routine.
6. Highlight four characteristics of capital as a factor of production. (4mks)
   1. It is man made
   2. A basic factor of production subject to depreciation
   3. Can be improved through technology.
   4. Subject to depreciation.
7. Outline four ways of creating utilities. (4mks)
   1. Form utilities through manufacturing, construction or processing
   2. Place utility through transportation.
   3. Time utility through storing trade or gifts.
   4. Possession utility through trade or gifts.
8. State three ways parents can motivate house girl to work harder. (3mks)
   1. Allow her a few days off duty every month.
   2. Pay rise
   3. Exposing or teach her how to carry our house chores.
   4. Appreciating her every time she does her work well.
   5. Involve her in decision making.
9. Outline four shortcomings of direct production. (4mks)
   1. Low quality goods are produced.
   2. Simple methods are used in production
   3. Low quality goods produced
   4. Goods produced are meant for direct consumption
   5. Leads to individualism.
10. Outline four sources of business ideas. (4mks)
    1. Newspapers
    2. Shows and exhibitions.
    3. Vocational training and experience
    4. Waste products
    5. Hobbies
11. State four roles played by ethics in business. (4mks)
    1. Ensures fair play in competition.
    2. Ensure rights of employees are protected.
    3. Ensures that the right people are assigned the right jobs.
    4. Ensures that customers are fairly treated.
12. Classify the following office staff. (4mks)
    

    Staff	Category
    Office Managers	Managerial
    Drivers	Junior
    Company Secretary	Managerial
    Copy Typist	Junior

13. Highlight four trends in office. (4mks)
    1. E – Mail – written messages sent electronically especially through a computer.
    2. Website – Virtual location in the internet where information can be posted for other people to access.
    3. Teleconferencing – Holding a meeting through computers when participating are far apart.
    4. E – Commerce – Carrying out trading activities through the internet.
14. Highlight four features of a good filing system.(4mks)
    1. Simple to understand
    2. Compact/not occupying too much space
    3. suitability/appropriate to the needs of business
    4. elasticity/flexibility
    5. accessibility
    6. economical
15. State four factors that influence entrepreneurial practices. (4mks)
    1. Government policy.
    2. State of infrastructure.
    3. Level of education and skills.
    4. Availability of markets.
    5. Availability of resources.
    6. Culture.
    7. Level of competition
    8. Political stability
    9. Natural factors.
16. Highlight four advantages of itinerant traders. (4mks)
    1. Little amount requirements
    2. Requires little capital to start
    3. Convenient as they take goods to customers.
    4. They sell in cash and therefore do not suffer bad debts.
    5. Flexible as they can move from one place to another.
17. State three differences between open office layout and enclosed office layout. (3mks)
    

    OPEN	CLOSED
    a) Large room where many employees work from b) No privacy for confidential discussions. c) Low construction and maintenance costs few partitions. d) Close supervision of workers discourages absenteeism. e) Minimum staff movement saving time when passing information. f) Air conditioning, lighting and heating in the room may not be conducive to all. g) Does not give prestige to officers	a)Small cubicles occupied by one or two officers b) Provide the privacy for confidential discussion c) High construction cost d) Encourage absenteeism due to lack of supervision. e) Time wasting as staff move from one office to another f) Can be done to occupants needs                       g) Counters prestige

    
    
    
18. Outline four services offered by wholesalers to producers. (4mks)
    1. Relieves the producers from the problem of distribution.
    2. Relieves the producers from marketing risks.
    3. Relieves the producers from storage risks.
    4. Relieves the producers of market research.
    5. Relieves the producers from problem as promotion.
    6. Finance them by buying in cash.