Business 1

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Questions and Answers

Define the term business

Any activity that is carried out by an individual or organisation concerning provision of goods and services with an aim of making profit.

What is business studies?

Study of the activities that are carried out in and around production, distribution and consumption of goods and services.

Name the 5 major disciplines/components / subjects of business studies

Commerce , Economics, Accounting, office practice and entrepreneurship

State 5 importance of bst to a learner

<ol> <li>Equips them with knowledge & skills to start and run a business. 2)Enables them to understand the role of a government in business. 3)Assists individual in appreciating the role of business in society. 4) Helps one develop positive attitude towards the environment. 5) Equips individual with abilities to promote co-operation</li> </ol> Signup and view all the answers

Highlight 7 business activities

Extraction,manufacturing ,trade, construction, processing of raw materials, distribution of goods & provision of services. Signup and view all the answers

Outline 5 roles of a business

1)Creation of employment 2)Exploit available resources. 3)Provide goods and services to satisfy human wants. 4)Improve living standards. 5)leads to development of infrastructure & technology. 6) Attracts other supporting services Signup and view all the answers

Outline 4 ways in which Kenya can use her natural resources economically for benefits

1)Creation of employment 2) Source of energy & food. 3) source of foreign exchange. 4)source of revenue to government Signup and view all the answers

State 5 circumstances under which one can decide to start a business

Be self independent. Make profit. Create employment. Utilize extra time. Make use of available resources Signup and view all the answers

State 4 activities that take place during distribution

Transportation. Communication. Trade. Banking Signup and view all the answers

Define production, distribution &; consumption

Production-creation of goods & services or increasing the usefulness of a good. Distribution- movement of good from where produced to where needed. Consumption- ability to utilize a good or service Signup and view all the answers