KCSE BUSINESS STUDIES TOPICAL QUESTIONS AND ANSWERS

Outline five benefits of a business to the society.

2/6/2020

Benefits of a business to the society

Provides goods and services required for the satisfaction of the members of the society
Exploits available resources in the society which will lead to the creation of employment
Avails a variety of commodities /services which enable people to have high /improved living standards
Leads to improvement of infrastructure which are required for the facilitation of trading activities
It attracts other auxiliary /support firms/banks/insurance/colleges that are important to the society
Leads to the development of technology /new ideas /skills for quality/quantity/efficient production

8/5/2020

Enable trade to take place
Bridges the gap between the producer and consumer through transport
Informs consumers about good and services available i.e. where they can be found, their prices, Uses etc
Provide storage facilities/ warehouse
Provides safe places for keeping money, opportunity for borrowing banking
Protects trade against risk though insurance