Business Studies Questions and Answers - Grade 7 Opener Exams Term 2 2023 Set 1

SECTION A: Answer all the questions in this section. Write the correct answer in the box provided.

1. Which one of the following is not a component of Business Studies?
   
   1. Finance.
   2. Economics.
   3. Commerce.
   4. Accounting.
2. How is financial literacy important as a component of Business Studies? Helps us to
   
   1. apply knowledge and skills to effectively use various financial skills.
   2. know how human beings attempt to satisfy their needs using the limited resources.
   3. understand how goods are transported from where they are produced to where they are consumed.
   4. keep accurate business records.
3. What does distribution mean in Business Studies?
   
   1. Buying and selling of goods and services in order to make profit.
   2. Using goods and services.
   3. The creation of goods and services.
   4. Movement of goods and services from the producer to the consumer.
4. Which of the following is not an aid of trade?
   
   1. Advertising.
   2. Warehousing.
   3. Buying.
   4. Insurance.
5. Human needs are unlimited while resources are limited. This statement means that people will always 
   1. meet their needs with ease.
   2. miss every need they need in their daily lives.
   3. strive to make ends need.
   4. struggle to start long lasting businesses.
6. What is the role of a salesperson? A person
   
   1. who utilises his or her knowledge to manage his or her business. B
   2. whose job is to sell products or services.
   3. who keeps records of business transactions.
   4. who earns a living through teaching business related studies.
7. Which one of the following career opportunities is not related to Business Studies?
   
   1. Bookkeeping
   2. Accounting
   3. Lumbering
   4. Banking
8. Which of the following is not a function of money? It is used as a
   1. unit of account.
   2. medium of exchange.
   3. measure of value.
   4. portrait of wealth.
9. How many raised bars are there in a fifty shilling note?
   
   1. Two
   2. Three
   3. One
   4. Four 
10. Which one of the following special features in Kenyan notes can only be seen when the note is raised against the light? The
    
    1. security thread.
    2. value of the note.
    3. texture of the note.
    4. watermark.
11. Kenyan notes exist in _______________________ denominations.
    
    1. 5
    2. 6
    3. 3
    4. 4
12. Which one of the following is a common feature between Kenyan coins and notes? The
    1. security thread.
    2. animal portrait.
    3. raised bars.
    4. material.
13. Which one of the following themes is not symbolised in any of the Kenyan notes?
    
    1. Green energy.
    2. Social services.
    3. Governance.
    4. Security.
14. Which of the following animals is not in any of the Kenyan currencies?
    1. Giraffe.
    2. Elephant.
    3. Rhino.
    4. Python.
15. An aim that someone tries to achieve through hardwork and planning is called
    
    1. an objective.
    2. a goal.
    3. a vision.
    4. a mission.
16. All the following are importance of setting personal goals. Which one is not? It
    
    1. helps to improve time management.
    2. gives focus and purpose.
    3. provides clear path to success.
    4. boosts enterpreneurship skills.
17. Which one of the following is a factor to consider when setting personal goals?
    
    1. Measurable.
    2. Gender.
    3. Locality.
    4. Societal position.
18. Which one of the following is a talent?
    
    1. Cooking.
    2. Welding.
    3. Washing.
    4. Drawing.
19. Nurturing our talents may involve
    
    1. doing what others do.
    2. repeating what we aspire over and over.
    3. avoiding doing what we are good at.
    4. doing every activity together.
20. All the following are ethical issues relating to the use of talents and abilities in business. Which one is not?
    
    1. Competition.
    2. Discrimination.
    3. Nepotism.
    4. Favouritism.

SECTION B. Answer all the questions in the spaces provided.

21. Read the statement below.
    "We want our employees to become excited, skilled and be able to transfer the excitement to our customers."
    How can the idea behind this statement be made possible?
22. Below is Nandia singing before a crowd of parents. How can Nandia make her talent even better?
23. Sandra set the goal below:
    "I will be confident enough to speak infront of the class by the end of the school term." Is this a long term or a short term goal?
24. Which of the Kenyan notes symbolises the theme of Agriculture?
25. How can a Grade 7 learner use money in his or her day-to-day life?

MARKING SCHEME

SECTION A

1. A
2. A
3. D
4. C
5. C
6. B
7. C
8. D
9. C
10. D
11. A
12. B
13. D
14. D
15. B
16. D
17. A
18. D
19. B
20. A

SECTION B

21. Constant motivation to the employees
22. Regular practice
23. Long term
24. Sh. 100 note
25. Buy important items