Form 4 Business Studies Term 2 Question Paper

Form 4 Business Studies Term 2

Course:Business Studies

Exam Year:2016

1)Explain what equilibrium price and equilibrium quantity mean

2)With the aid of diagrams explain the effect of :
A)An increase in the demand for the product on equilibrium price and quantity

B)An increase in the supply of a product on equilibrium price and quantity

3)With the aid of a diagram discuss the effects of:

A)Excess demand on equilibrium price and quantity

B)Excess supply on equilibrium price and quantity

4)Discuss 3 methods of setting price of a product other than market forces of demand and supply

5)Discuss various ways of determining the size of a firm

6)Identify 3 factors that may encourage the location of firms in a particular area

7)Explain 6 advantages of localisation of firms

8)Discuss 5 advantages of delocalization

9)Explain 4 factors that justify the existence of small firms in an economy

10)Outline 3 factors that influence what goods and services are produced by a firm

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Form 4 Business Studies Term 2 Question Paper

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