a)Free goods - Those things which are given free by nature eg air. Have utility but
no economic value.
Economic goods - Those things which are scarce when compared to human wants and
human effort required to obtain them. Have utility and economic
value (price)
b)Consumer goods - Goods meant for direct consumption and they satisfy economic
wants may be perishable or durable.
Produce goods - Goods that help in further production of consumer goods. They
assist in production eg machinery.
c) Business Wealth - Goods of value (assets) that belong to a business eg. Premises.
Personal Wealth - Consists of items that belong to an individual person eg clothes,
TV, etc.
sharon kalunda answered the question on February 28, 2019 at 13:17
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Specialization is the separation of jobs, activities and processes so that every individual concentrates on what they can do best. Name and explain four major...
(Solved)
Specialization is the separation of jobs, activities and processes so that every individual concentrates on what they can do best. Name and explain four major such divisions.
Date posted:
February 28, 2019
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Answers (1)
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Discuss the factors that influence the choice of a filing system in an organization
(Solved)
Discuss the factors that influence the choice of a filing system in an organization
Date posted:
February 28, 2019
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Answers (1)
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Despite major development in the transport sector, many people are still using carts (both those driven by animals and those pushed by human beings).Discuss five...
(Solved)
Despite major development in the transport sector, many people are still using carts (both those driven by animals and those pushed by human beings). Discuss five reasons to show why this type of transport is still preferable to others.
Date posted:
February 28, 2019
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Answers (1)
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Discuss five differences between a bank statement and a bank pass book.
(Solved)
Discuss five differences between a bank statement and a bank pass book.
Date posted:
February 28, 2019
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Marketing boards are producer organizations set up to encourage and control the selling of agricultural products. Discuss five functions of these organizations. ...
(Solved)
Marketing boards are producer organizations set up to encourage and control the selling of agricultural products. Discuss five functions of these organizations.
Date posted:
February 28, 2019
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Answers (1)
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(Solved)
Name four file covers used in an office.
Date posted:
February 28, 2019
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Answers (1)
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International trade improves the economic welfare of a country. The recent opening of the East African co-operation seeks to diversify International trade. Highlight four factors...
(Solved)
International trade improves the economic welfare of a country. The recent opening of the East African
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Date posted:
February 28, 2019
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Answers (1)
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Mention four of the contents in articles of association.
(Solved)
Mention four of the contents in articles of association.
Date posted:
February 28, 2019
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Give four reasons why people prefer using a cheque to cash when effecting payment.
(Solved)
Give four reasons why people prefer using a cheque to cash when effecting payment.
Date posted:
February 28, 2019
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Answers (1)
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Mention four reasons to justify that the Central Bank is not a Commercial Bank.
(Solved)
Mention four reasons to justify that the Central Bank is not a Commercial Bank.
Date posted:
February 28, 2019
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Answers (1)
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Name four documents used in home trade.
(Solved)
Name four documents used in home trade.
Date posted:
February 28, 2019
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Answers (1)
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Give four reasons why an office may prefer storing information in Micro-films instead of files.
(Solved)
Give four reasons why an office may prefer storing information in Micro-films instead of files.
Date posted:
February 28, 2019
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Answers (1)
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As the transport manager of a busy company. Highlight four factors you would consider before choosing a mode of transport for your goods and services.
(Solved)
As the transport manager of a busy company. Highlight four factors you would consider before choosing a mode of transport for your goods and services.
Date posted:
February 28, 2019
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Answers (1)
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Highlight four ways in which Insurance companies make profits.
(Solved)
Highlight four ways in which Insurance companies make profits.
Date posted:
February 28, 2019
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Answers (1)
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List down four features of co-operative society.
(Solved)
List down four features of co-operative society.
Date posted:
February 28, 2019
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Answers (1)
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The capital structure of a company is divided. Name four such divisions.
(Solved)
The capital structure of a company is divided. Name four such divisions.
Date posted:
February 28, 2019
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Answers (1)
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Mention four limitations of advertising as a means of sales promotion.
(Solved)
Mention four limitations of advertising as a means of sales promotion.
Date posted:
February 28, 2019
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Answers (1)
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What are some of the various risks that international marketers face With their business firm if their product and activities are political vulnerable
(Solved)
What are some of the various risks that international marketers face With their business firm if their product and activities are political vulnerable
Date posted:
February 26, 2019
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Answers (1)
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Enumerate all the preferential trade area protocols
(Solved)
Enumerate all the preferential trade area protocols
Date posted:
February 26, 2019
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Answers (1)
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The following trial balance was extracted from the books of Nyaituya on
31st December 2005.
(Solved)
The following trial balance was extracted from the books of Nyaituya on
31st December 2005.
Additional information. Sh.
(i) Stock as at 31st December 2005 52,000
(ii) Rent accrued 6,000
(iii) Insurance paid in advance 4,000
(iv) Commission due 5,000
(v) Salaries owing 21,000
REQUIRED:
Prepare a trading, profit and loss account for the year ended 31st December
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Date posted:
February 25, 2019
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Answers (1)