Questions
- Define the term business. (2mks)
- State four importance of business studies in society. (4mks)
- State the term given to each of the following statements. (4mks)
- Activities carries out with a view of making profit. ___________________
- Increasing the usefulness of a good or services. ___________________________
- Movements of goods from producer to consumers ________________________
- A person who use a good or services ___________________________
- State four types of business activities. (4mks)
- State whether each of the following factors fall under micro-environment or macro-environment. (4mks)
Factors Micro/macro- environment Competitive environment Legal-political environment Business structure Business culture - Differentiate between internal business environment from external business environment.
- Internal (2mks)
- External (2mks)
- State four characteristic of human wants. (4mks)
- State four characteristics of Goods. (4mks)
Marking Scheme
- Define the term business. (2mks)
- Business refers to any activity carried out by an individual or by an organsation with an aim of making profit.
- Business refers to any activity carried out by an individual or by an organsation with an aim of making profit.
- State four importance of business studies in society. (4mks)
- Equips members with knowledge and skills necessary to start business.
- Helps individual to develop positive attitudes towards the environment.
- Enable one to understand the role of government in business
- Equip one with knowledge and skill required to evaluate business performance.
- State the term given to each of the following statements. (4mks)
- Activities carries out with a view of making profit.
- Business
- Increasing the usefulness of a good or services.
- Production
- Movements of goods from producer to consumers
- Distribution
- A person who use a good or services
- Consumer
- Consumer
- Activities carries out with a view of making profit.
- State four types of business activities. (4mks)
- Extraction
- Construction
- Trade
- Processing of row materials
- State whether each of the following factors fall under micro-environment or macro-environment.
Factors Micro/macro- environment Competitive environment Macro Legal-political environment Macro Business structure Micro Business culture Micro - Differentiate between internal business environment from external business environment.
- Internal (2mks)
- These are factors that are within the business itself.
- These are factors that are within the business itself.
- External (2mks)
- These are factors that affect the business from outside.
- These are factors that affect the business from outside.
- Internal (2mks)
- State four characteristic of human wants. (4mks)
- They are insatiable
- Some are universal
- They are competitive
- They vary in intensity and urgency.
- State four characteristics of Goods. (4mks)
- Are tangible
- Can be stored
- Can be standardized
- Can change possesion.
Join our whatsapp group for latest updates
Tap Here to Download for 50/-
Get on WhatsApp for 50/-
Download Business Studies Questions and Answers - Form 1 Mid Term 1 Exams 2022.
Tap Here to Download for 50/-
Get on WhatsApp for 50/-
Why download?
- ✔ To read offline at any time.
- ✔ To Print at your convenience
- ✔ Share Easily with Friends / Students