Business Studies Questions and Answers - Form 2 End Term 1 Exams 2021

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  1. State four characteristics of human wants (4mks)
  2. State four components of business studies (4mks)
  3. State four features of a bill of exchange (4mks)
  4. Highlight five features of an effective warehouse (5mks)
  5. State five problems of using rail as a transport means (5mks)
  6. State four types of advertising (4mks)
  7. Outline four elements of transport. (4mks)
  8. State four securities traded at the Nairobi stock exchange (4mks)
  9. State four activities found in primary level of production (4mks)
  10. State four circumstances under which a cheque is appropriate as a means of payment (4mks)
  11. Highlight six factors a trader would consider when choosing a means of communication (6mks)
  12. State four characteristics of mail order stores (4mks)
  13. Highlight four disadvantages of operating a closed office layout(4mks)
  14. Highlight four unethical issues on product promotion (4mks)
  15. State three factors of production (3mks)
  16. State four advantages of written communication (4mks)
  17. State three characteristics of an entrepreneur (3mks)


MARKING SCHEME

  1. State four characteristics of human wants (4mks)
    • cannot be postponed
    • are felt needs
    • must be satisfied before secondary
    • one cannot do without them
  2. State four components of business studies (4mks)
    • Economics
    • Commerce
    • Accounting
    • enterpreneurship
  3. State four features of a bill of exchange (4mks)
    • Must be signed by the drawer
    • Must be accepted by the drawee
    • Accepted unconditionally
    • Bear revenue stamp
  4. Highlight five features of an effective warehouse (5mks)
    • Appropriate building design
    • Appropriate location
    • Efficient staff
    • Proper recording system
    • Effective communication network
    • Adequate security
  5. State five problems of using rail as a transport means (5mks)
    • Uneconomical over short distances
    • Needs to be supplemented by other means of transport
    • High initial construction cost
    • Inflexible
    • Slow means of transport
  6. State four types of advertising (4mks)
    • Institutional
    • Celebrity
    • Product
    • informative
  7. Outline four elements of transport. (4mks)
    • The way – surface which units of carriage more
    • Unit of carriage – vessels in which goods are transported
    • Terminals-point of loading and off loading
    • Method of propulsion – power that enables units of carriage to move
  8. State four securities traded at the Nairobi stock exchange (4mks)
    • Shares
    • Corporate bonds
    • Treasury bills
    • Treasury bonds
  9. State four activities found in primary level of production (4mks)
    • Farming
    • Fishing
    • Mining
    • lumbering
  10. State four circumstances under which a cheque is appropriate as a means of payment (4mks)
    • Security/ safety required
    • Amount of money involved is large
    • Distance between the drawer and payee is large
    • Avoid carrying cash
    • Trader operates a bank account
  11. Highlight six factors a trader would consider when choosing a means of communication (6mks)
    • Choosing a means of communication
    • Cost
    • Confidentiality
    • Availability
    • Distance
    • Urgency
    • Reliability
    • Accuracy of means
    • Reference/ evidence
    • Length of message
  12. State four characteristics of mail order stores (4mks)
    • Sell goods through post office
    • Advertise through means like print media, electronic media,journals and cinemas
    • Customer do not visit the selling premises
    • Transactions are carried out through the post office
    • Goods are dispatched on the basis of cash with order or cash on delivery
    • May have large warehouse
  13. Highlight four disadvantages of operating a closed office layout(4mks)
    • No close supervision of workers
    • Costly to construct and maintain
    • May encourage absenteeism
    • May encourage laxity
    • Reduces interaction between management and other employees
    • Possible misuse of office facilities
    • Officers may take a lot of time when moving from one office to another
  14. Highlight four unethical issues on product promotion (4mks)
    • Not disclosing side effects
    • False pricing
    • Cheating on the ingredients of the products
    • Cheating on the permanence of the products
    • Negative effects on the environment
  15. State three factors of production (3mks)
    • Capital
    • Land
    • Entrepreneurship
    • Labour
  16. Advantages of written communication
    • Can be retained are relatively cheap
    • Suitable for confidential information
    • Allows for inclusion of fine details
    • Used as evidence
    • Can be addressed to many people
  17. Characteristics of an entrepreneur
    • Risk taker
    • Initiative
    • Able to solve problems
    • Desire to achieve
    • Time consciousness
    • Seek information
    • Concern for high quality products
    • Commitment to work
    • Desire
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