Question

A form four School leaver intends to start a business. Outline three ways in which knowledge of business studies will benefit him.

Answer 1

1. Enables him or her to understand the general business environment
2. He/she is able to make informed decisions on the consumption of goods and services
3. He/She is able to understand /appreciate the role of government in Business.
4. He/she is able to appreciate the need for ethical practices in business
5. Equips him/her with relevant skills to start and mange the business
6. Enables him /her to appreciate the role played by market forces in business/know how to price.