1. A business is an organization that provides goods and services to earn profits. Explain FOUR

(4) purposes of business.

[10 marks]

2. Business plays a crucial role in society, and the global economy, and its importance can be

understood from various perspectives. Explain FOUR (4) importance of business.

[10 marks]

3. The business environment refers to the collection of situations or forces that influence the operation of the business. Explain the TWO (2) types of business environment.

[10 marks]

4. Ethical issues in business refer to situations and dilemmas where moral principles and values

intersect with business practices and decisions. Explain FOUR (4) ethical issues in business.

[10 marks]

5. Entrepreneurs are individuals who start and operate their businesses, taking on financial risks in the pursuit of new opportunities and innovation. Explain FOUR (4) types of entrepreneurs.

-END OF QUESTIONS-

[10 mark