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Bus F2 MS

This document is a marking scheme for a Form Two Business Studies examination, outlining various questions and answers related to business concepts. It covers topics such as factors of production, business regulation, communication barriers, and insurance claims. The document includes classifications of resources, staff categories, and types of utilities.

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robbybob335
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16 views3 pages

Bus F2 MS

This document is a marking scheme for a Form Two Business Studies examination, outlining various questions and answers related to business concepts. It covers topics such as factors of production, business regulation, communication barriers, and insurance claims. The document includes classifications of resources, staff categories, and types of utilities.

Uploaded by

robbybob335
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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0713779527

NAME: ………………………………… ADM NO: ……………… CLASS: ……………….

FORM TWO BUSINESS STUDIES


TIME: 1 ½ HOURS
MAXIMUM SCORE = 70MARKS

MARKING SCHEME

Answer all the questions in the spaces provided.

1. State the term given to each of the following statements:- (3 mks)


(a) Activities carried out with view of making profit –Business

(b) Increasing the usefulness of a good or services. – Production

(c) Movement of goods from producer to consumer – Distribution

2. State whether each of the following factors fall under macro-environment or micro-environment.
(i) Competitive environment – Macro
(ii) Legal-political environment – Macro
(iii) Business structure – Micro
(iv) Business culture – Micro

3. Using examples, distinguish between man-made resources and human resources. (4 mks)
(i) Man-made resources – resources created by human being to be used in satisfying their
wants e.g clothes .

(ii) Human resources – Human being lendering services in production e.g teacher.

4. List down four factors of production and their rewards. (4 mks)

Factor Reward
(i) Land Rates

(ii) Capital Interest

(iii) Entrepreneurship Profit

(iv) Labour Wage

5. Outline four circumstances under which a partnership may be dissolved. (4 mks)


(i) If partners mutually agree to dissolve the business.
(ii) A court order.
(iii) Continued disagreements among the partners.
(iv) In case of completion of the intended purpose.

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6. State four ways in which government may regulate business activities. (4 mks)
(i) Regulation
(ii) Training
(iii) Trade promotion
(iv) Provision of public utilities

7. List four essential elements of transport. (4 mks)


(i) Unit of carriage
(ii) Methods of propulsion
(iii) Ways
(iv) Terminals

8. State four barriers to effective communication. (4 mks)


(i) Language barrier
(ii) Poor listening
(iii) Negative attitude
(iv) Poor timing

9. Outline procedure for making an insurance claim. (5 mks)


(i) Notifying the insurer
(ii) Filling a claim form
(iii) Investigation of the claim
(iv) Preparation of the assessment report.
(v) Payment of the claim.

10. Highlight four circumstances under which personal selling is appropriate. (4 mks)
 When launching a new product
 When demonstration is required
 Where market is concentrated in one area
 When the value of the product is high.

11. State four reasons why a cheque may be dishonoured. (4 mks)


 Insufficient funds in the account
 Signature differ from the specimen in the bank
 If the drawer has closed his/her account with the bank
 Stale cheque

12. Classify the following staff as subordinate, junior or management. (4 mks)

Staff Category
(a) Executive officer Management
(b) Driver Junior
(c) Typist Junior
(d) Receptionist Subordinate
(c) Director Management

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13. List various sources of a business idea. (4 mks)


 Magazine
 Newspapers
 Hobbies
 Surveys

14. Outline four factors to consider when selecting office requirement. (4 mks)
 Cost
 Adaptability
 Durability
 Availability of manpower

15. State four functions of retailers to consumers. (4 mks)


 Credit facilities
 After-sales services
 Advice
 Breaking bulk

16. State four types of utilities. (4 mks)


 Form utility
 Time utility
 Place utility
 Possessive utility

17. Classify each of the following as renewable or non-renewable resource. (4 mks)

Item Renewable Non-renewable


Wood Renewable
Solar energy Renewable
Gravel Non-renewable
Natural gas Non-renewable

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