KCSE Business Studies Topical Questions and Answers

Fill in the missing figures in the table below: (4 marks)

14/12/2020

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Fill in the missing figures in the table below: (4 marks)

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The following diagram represents the circular flow of income in a two sector closed economy.

14/12/2020

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The following diagram represents the circular flow of income in a two sector closed economy.

Identify two factors represented by each of the arrows labelled a and b. (4 marks)

Expected Response

Factors represented by the arrows labelled a and b are:

(a)
- (i) Payment for goods and services.
- (ii) Factor services / inputs / factors of production.
(b)
- (i) Payment for factor inputs.
- (ii) Goods and services.

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Highlight four roles played by the broker in the chain of distribution. (4 marks)

14/12/2020

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Roles played by the broker in the chain of distribution

Roles played by the broker in the chain of distribution include:

Linking the buyer and the seller.
Bargaining for the principal.
Passing information between the principal and the client.
Facilitating access to a variety of goods and services to the buyer.
Providing an avenue for the seller to access many buyers.
Giving advice to buyers and sellers on market trends.

Highlight four roles played by the broker in the chain of distribution

In the spaces provided below. indicate whether the following factors cause movement along the demand curve or a shift of the demand curve. (3 marks)

14/12/2020

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In the spaces provided below. indicate whether the following factors cause movement along the demand curve or a shift of the demand curve. (3 marks)

Expected Response

Indicating whether factors cause movement along the demand curve or a shift of the demand curve:

(a) Shift of the demand curve.
(b) Movement along the demand curve.
(c) Shift of the demand curve.

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Explain the meaning of the word insured and insurance

14/12/2020

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Explain the meaning of the following terms: (4 marks)
(a) Insured .
(h) Insurance .

Meaning of insured and Insurance

(a) Insured:
Is an individual or business unit that signs an insurance contract to be covered against a risk of loss and can therefore be compensated in the event of the loss occurring.
(b) Insurance:
Is an arrangement (contract) in which the insured pays premiums to the insurer so as to be compensated in case of loss occurring as a result of an insured risk.

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State live types of information that a manager may communicate to the juniors. (5 marks)

14/12/2020

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Types of information that a manager may communicate to the juniors

Types of information that a manager may pass to the juniors include:

Instructions and directions.
Explain policies of the organization.
Give procedures to be followed in carrying out duties.
Information on performance of juniors (evaluation).
Invitation to meetings.
Allocation / delegation of duties.
Motivating / inspiring juniors.
Giving solutions to juniors’ issues.

State live types of information that a manager may communicate to the juniors

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Outline four features of liners in sea transport. (4 marks)

13/12/2020

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Features of liners in sea transport

Features of liners in sea transport include:

Ferry passengers or cargo.
Follow a regular time table / schedule.
Call at ports at regular intervals.
Follow a regular route.
Form associations / conferences to protect themselves against unfair competition.
Charge fixed freightage and fare regardless of demand.

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Roles and functions of a stock exchange market

13/12/2020

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Role of a stock exchange market

Activities that may be carried out in a stock exchange market include:

Buying and selling of shares.
Mobilising savings for investment.
Listing of companies.
Issuing of new securities / raising capital.
publication of statistical information.
Advising investors.

roles and functions of a stock exchange market

Highlight four circumstances in which a cheque may be used as a means of payment. (4 marks)

13/12/2020

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Circumstances in which a cheque may be used as a means of payment

Circumstances in which a cheque may be used as a means of payment include:

When the amounts involved in the transaction are high.
When the seller insists on payment by cheque.
When evidence of payment is required.
When payment is to be directed into the payee ‘s account.
When the tenus of sale is cash with order.
When there is need to ensure safety of the money being transferred.

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Outline four tasks that may be carried out by a receptionist in an office. (4 marks)

13/12/2020

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Tasks that may be carried out by a receptionist in an office

Tasks that may be carried out by a receptionist in an office include:

Receiving visitors to the organization.
Receiving and routing telephone calls.
Taking and passing messages.
Dealing with simple petty cash for purchase of newspapers, tea etc.
Supervising messengers.
Keeping simple records.
Distributing publications by the organization.

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Name two occupations that relate to each of the production activities given below: (3 marks)

13/12/2020

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Name two occupations that relate to each of the production activities given below: (3 marks)

Expected Response

Occupations that relate to the production activities are:

(a) Extraction:
- (i) mining.
- (ii) fishing.
- (iii) lumbering.
- (iv) fanning.
(b) Construction:
- (i) bridge making
- (ii) road construction.
- (iii) ship building.
- (iv) masonry.
(c) Direct services:
- (i) hairdressing.
- (ii) teaching.
- (iii) health care.
- (iv) entertaining.

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The following are descriptions of features of human wants. Identify the features that relate to the descriptions in the spaces provided. (4 marks)

13/12/2020

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The following are descriptions of features of human wants. Identify the features that relate to the descriptions in the spaces provided. (4 marks)

Expected Response

Features of human wants as described are:
(a) Insatiable.
(b) Recurrent / Repetitive.
(c) Complementary.
(d) Competitive.

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Fill in the missing figures in the table below: (4 marks)

Expected Response

The following diagram represents the circular flow of income in a two sector closed economy.

Expected Response

Highlight four roles played by the broker in the chain of distribution. (4 marks)

Roles played by the broker in the chain of distribution

Related Business Studies Quiz and Answers on Chain of Distribution Form 3 Level

In the spaces provided below. indicate whether the following factors cause movement along the demand curve or a shift of the demand curve. (3 marks)

Expected Response

Explain the meaning of the word insured and insurance

Meaning of insured and Insurance

State live types of information that a manager may communicate to the juniors. (5 marks)

Types of information that a manager may communicate to the juniors

Outline four features of liners in sea transport. (4 marks)

Features of liners in sea transport

Roles and functions of a stock exchange market

Role of a stock exchange market

Related Business Studies Quiz and Answers on Government and Business. Form 2 Level

Highlight four circumstances in which a cheque may be used as a means of payment. (4 marks)

Circumstances in which a cheque may be used as a means of payment

Outline four tasks that may be carried out by a receptionist in an office. (4 marks)

Tasks that may be carried out by a receptionist in an office

Name two occupations that relate to each of the production activities given below: (3 marks)

Expected Response

The following are descriptions of features of human wants. Identify the features that relate to the descriptions in the spaces provided. (4 marks)

Expected Response

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