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) ...................................................................................................

4. Outline four considerations that a seller should take into account before giving credit to

a new customer. (4mks)

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

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

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

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

5. 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 _________________

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

a)` .....................................................................................................

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

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

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

8. Give four assumptions that are associated with perfect competitor. (4mks)

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

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

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

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

9. List four types of unemployment in an economy and give the cause for each. (4mks)

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

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

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

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

10. What benefits may accrue to manufacturing firm that uses modern technology? (4mks)

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

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

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

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