Business Studies Questions and Answers - Form 2 Term 2 Opener Exams 2023

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 SECTION A

(ANSWER ALL QUESTIONS IN THIS SECTION)

  1. State FOUR characteristics of basic wants: (4mks)
  2. List any TWO elements that comprises of the internal environment of a business (2mks)
  3. Outline any four features of economic resources (4mks)
  4. Highlight any four types of small scale retailers with shops (4mks)
  5. Name any four clauses of memorandum of association for limited liability companies.(4mks)
  6. State four principles of co-operatives (4mks)
  7. Identify any four ways through which the government may regulate business activities(4mks)
  8. Highlight any four reasons why the government needs to get involved in business activities (4mks)
  9. State the essential elements of transport (4mks)
  10. Outline any four advantages of carts as a means of transport (4mks)
  11. Give any FOUR characteristic of tramps (4mks)
  12. State any four importance of transport to a business (4mks)

SECTION B (ANSWER ANY TWO QUESTIONS FROM THIS SECTION)

  1. Explain any six factors to be considered when selecting an office equipment (12mks)
  2. Explain six factors that influences the choice of appropriate means of transport (12mks)
  3. Differentiate between Goods and Services (12mks)
  4. Describe any six methods used by the government to protect consumers (12mks)


MARKING SCHEME 

SECTION A(ANSWER ALL QUESTIONS IN THIS SECTION)

  1. State FOUR characteristics of basic wants: (4mks)
    1. They are felt needs
    2. They cannot be postponed.
    3. They are satisfied before secondary wants
    4. One cannot do without them
  2. List any TWO elements that comprises of the internal environment of a business(2mks).
    1. Business culture
    2. Business structure
    3. Human resources
    4. Technologies
    5. Owners
  3. Outline any four features of economic resources (4mks)
    1. They are scarce
    2. They have monetary value
    3. They have utility
    4. They can change ownership 
    5. They are unevenly distributed.
    6. They are complimentary.
  4. Highlight any four types of small scale retailers with shops (4mks)
    1. Single shops
    2. Tied shops
    3. Kiosks
    4. Canteens
    5. Mobile shops
  5. Name any four clauses of memorandum of association for limited liability companies.(4mks)
    1. Name clause
    2. Objectives clause
    3. Liability clause
    4. Capital clause
    5. Declaration clause
  6. State four principles of co-operatives (4mks)
    1. Voluntary and open membership.
    2. Democratic administrative
    3. Limited interest on share capital.
    4. Promotion of education to members.
    5. Provision of dividends to members.
    6. Co-operation with other co-operatives.
  7. Identify any four ways through which the government may regulate business activities(4mks)
    1. Licensing
    2. Ensuring standards
    3. Legislation
    4. Through offering advisory services.
  8. Highlight any four reasons why the government needs to get involved in business activities(4mks)
    1. To prevent exploitation of the public by the private section.
    2. To provide essential goods and services where private individuals are unwilling to venture because of low profit.
    3. To provide essential goods and services which private individuals are unable to provide due to the large amount of the initial capital required.
    4. To stimulate economic development in the country.
    5. To prevent foreign dominance for economy by investing in areas where the locals are not able to
  9. State the essential elements of transport (4mks)
    1. Ways
    2. Unit of carriage
    3. Methods of propulsion
    4. Terminals.
  10. Outline any four advantages of carts as a means of transport (4mks)
    1. Relatively cheap to hire over short distances.
    2. Initial buying and maintenance cost is low.
    3. It is appropriate in remote areas where other means are not available.
    4. It compliments other means of transport.
    5. Readily available for hire.
  11. Give any FOUR characteristic of tramps (4mks)
    1. Do not have a fixed route.
    2. Have no set timetables
    3. There fares are not fixed. They change according to demand.
    4. They have irregular travelling patterns.
  12. State any four importance of transport to a business (4mks)
    1. Helps to link the consumers to producers.
    2. Helps in creation of employment.
    3. Promotes specialization.
    4. Makes goods and services more useful.
    5. Creates a wider market for goods/products.

SECTION B (ANSWER ANY TWO QUESTIONS FROM THIS SECTION)

  1. Explain any six factors to be considered when selecting an office equipment(12mks)
    1. Cost
    2. Availability of manpower
    3. Availability of spare parts
    4. The possibility of hiring than purchasing.
    5. Availability of auxiliary services e.g. electricity
  2. Explain six factors that influences the choice of appropriate means of transport(12mks)
    1. Cost
    2. Nature of goods
    3. Reliability of the means.
    4. Availability of he means.
    5. Security of means.
  3. Differentiate between Goods and Services (12mks)

       GOODS  SERVICES
     1  goods can be seen  services cannot be seen
     2  Quality can be standardized  Quality cannot be standardized.
     3   Are tangible  Are intangible
     4  Can be stored  Cannot be stored
     5  Can change possession   Cannot be separated from the service provider
  4. Describe any six methods used by the government to protect consumers(12mks)
    1. Setting up standards.
    2. Weights and measures act
    3. Licenses.
    4. Foods and act.
    5. Public health act
    6. Trade description act/sale of goods act.
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