Explain five circumstances in which a firm may acquire monopoly power
Circumstances in which a firm may acquire monopoly power include:
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A school leaver plans to start a retail business. Explain five types of small scale retail shops the person may start.
Types of small scale retail shops that a school leaver may start include:
Describe four characteristics of services.
Characteristics of services include:
The following Trial Balance was prepared by Laketi Traders on 31 December, 2009.
Using the information given above, prepare:
(i) A profit and loss account; (5 marks) (ii) A balance sheet. (7 marks) 
Explain five elements of effective communication.
Elements of effective communication include:
Explain five characteristics of property insurance.
Characteristics of property insurance include:
Discuss five factors that may promote entrepreneurship in Kenya.
Factors that may promote entrepreneurship in Kenya include:
Explain five disadvantages that a country would suffer if she restricted trade with other countries.20/12/2020 Explain five disadvantages that a country would suffer if she restricted trade with other countries.
Disadvantages that a country would suffer if she restricted trade with other countries include:
Explain five merits of direct taxes to the government.
Merits of direct taxes to the government include:
The table below shows the demand and supply schedules for product A in a week.
Using the information given in the table above, draw the demand and supply curves showing the market equilibrium for the product. (10 marks)
The demand and supply curves for product X showing its market equilibrium.
Explain five ways in which a computer may be used in an office.
Ways in which a computer may be used in an office include:
Explain five benefits of division of labour to an organization.
Benefits of division of labour to an organization include:
State four features of a perfectly competitive market.
Features of a perfectly competitive market include:
Highlight four factors that a firm may consider when deciding on the goods to produce.
Factors that a firm may consider when deciding on the goods to produce include:
Zawadi operates a hardware business in her home town. Outline four methods she may use to determine prices for her goods other than the forces of demand and supply.
Methods of determining prices other than the forces of demand and supply include:
Highlight four advantages of promoting sales through the internet.
Advantages of promoting sales through the internet include:
Outline four conditions under which a warehouse may be considered to be operating efficiently.20/12/2020 Outline four conditions under which a warehouse may be considered to be operating efficiently.
Conditions under which a warehouse may be considered to be operating efficiently include:
In the spaces provided in the table below, name the document iambi Ltd. would issue under the circumstances described:
Documents to issue:
Given the statements in the table below, indicate the type of entry to be made in the relevant ledger accounts:
Entries to be made:
The following balances were extracted from the books of Highlife General Stores on 31st December 2008:
Prepare the balance sheet of Highlife General Stores as at 31 st December, 2008.
Highlight four measures that a government may take to reduce the mortality rate in a country.20/12/2020 Highlight four measures that a government may take to reduce the mortality rate in a country.
Measures that a government may take to reduce the mortality rate in a country include:
Outline four challenges that may be encountered when measuring national income using the output approach.
Challenges that may be encountered in measuring national income using the output approach include:
Highlight four benefits that a country gets by encouraging trade among her citizens.
Benefits that a country gets by encouraging trade among her citizens include:
State four ways in which a good filing system may facilitate the operations in an office.20/12/2020 State four ways in which a good filing system may facilitate the operations in an office.
Ways in which a good filing system facilitates the operations in an office include:
State four factors that may lead to the success of a business.
Factors that may lead to the success of a business include:
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