KCSE BASED BUSINESS STUDIES QUESTIONS WITH ANSWERS
Ways in which peace within a country may encourage entrepreneurial development
​Ways in which peace within a country may encourage entrepreneurial development include:
Related 'Entrepreneurship' Resources
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Features of labour as a factor of production
​Features of labour as a factor of production include:
Related 'Satisfaction of Human Wants' Resources Form 1 LevelWhat are basic wants?
These are the essential needs in life such that one cannot do without them. They include food, shelter and clothing. They are satisfied before the secondary wants. They have the following characteristics;
Principles of Insurance(i) Principle of indemnity
Insurance aims at restoring the insured to the financial position he/she was in before the loss occurred and not benefit him/her.
(ii) Insurable interest
The insured must prove that the occurrence of the risk will cause him/her financial loss.
(iii) Utmost good faith (uberrima fidei)
The insured must disclose all materials and relevant information that may affect insurance contract it subsequently comes to light.
(iv) Proximate cause.
There must be a fairly close connection between the cause of the loss and the risk insured.
(v) Subrogation.
In case of total loss and full compensation the insurer, assumes the rights that insured had on the property destroyed.
(vi) Contribution
In case of property being insured by more than one insurance firm, all the insurers share the burden of compensation in the proportion of coverage of the risk.
Outline five assumptions associated with the circular flow of income in a two sector economy.2/6/2020 AnswerAssumptions associated with the circular flow of income in a two sector economy
AnswerProcedure for obtaining an insurance policy
Government initiated methods of consumer protection
AnswerAdvantages of locating firms in different parts of the country
AnswerBenefits of a business to the society
The following information relates to Movaic Retailers for the month of July 2015:Calculate: (I) Mark-up ii) Margin (iii Total expenses (iv) Net profit (y) Rate of stock turnover AnswerMeasures that can be taken to increase the volume of exports
AnswerDemerits of pipeline transport
The Trial Balance given below was extracted from the books of Rakwaro Enterprises on |
Features of co-operative societies include:
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