Questions

1. Outline four considerations that a seller should take into account before giving credit to a new customer. (4mks) a) ....................................................................................................

b) .................................................................................................

c) ................................................................................................

d) ....................................................................................................

2 The table below shows some of the occupations in production. Indicate the level of production associated with each of the occupations. (4mks) Occupation Level of production a) Mining _________________

b) Oil refining _________________

c) Insurance _________________

d) Teaching _________________

3 What are the advantages of personal selling as a method of sales promotion? (4mks) a)` .....................................................................................................

b) .....................................................................................................

c) .....................................................................................................

d) ....................................................................................................

4. The diagram below shows the demand and supply curves of a certain commodity and the corresponding equilibrium price (Po) and quantity (Qo). On the diagram, show the new equilibrium quantity and price as a result of an increase in the supply of the commodity. (4mks) 8. Give four assumptions that are associated with perfect competitor. (4mks) a) ...................................................................................................

b) ......................................................................................................

5 State four advantages of operating a partnership form of business. (4mks)

a) ...................................................................................................

b) ...................................................................................................

c) ...................................................................................................

d) ...................................................................................................

2. Outline four risks against which a shopkeeper may insure. (4mks) a) .................................................................................................

b) ..................................................................................................

c) ................................................................................................... d) ..................................................................................................

3. Give four ways in which a government may participate in the operations of a state corporation. (4mks) a) .....................................................................................................

b) ....................................................................................................

c) ...................................................................................................

d) ...................................................

c) ......................................................................................................

D So Price Eo Po So D Qo Quantity . d) ........................................................................

4 State factors that may affect the geographical mobility of labour ( 4 mks)

5. Outline four ways in which commercial attaches may promote trade between 1,320,000 1320,000 . their country and other countries ( 4 mks)