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Form 3 business studies revision questions and answers set 3

Form 3 business studies revision questions and answers set 3

Lessons (21)

• 1.    Explain the meaning of the following terms as used in business unit. i) Unlimited liability ii) Limited liability
  1m 34s

• 2.    State whether each of the following factors fall under internal or external business environment.
  1m 43s

• 3.    State three examples of each of the following resources -renewable resources include; i) Solar energy ii) Wood iii) Soda ash iv) Vehicle
  0m 57s

• 4.    Distinguish between the division of labour and specialization.
  0m 45s

• 5.    Explain the meaning of the following characteristic of human wants. a) Human wants are unlimited b) Human wants are universal
  1m 2s

• 6.    Outline four characteristics of good business opportunity.
  0m 55s

• 7.    State four ways of reproducing documents in an office.
  0m 33s

• 8.    Highlight four disadvantages of operating a kiosk business.
  1m 24s

• 9.    State four characteristics of chain stores type of retail business.
  1m 17s

• 10.    Outline four factors that influence choice of appropriate means of transport.
  1m 29s

• 11.    State the principle of insurance to which each of the following statement relate. a) Restoring the insured to the financial position he/she was in just before the risk occurred b) A person can only insure property whose destruction would result to a financial loss to him/her c) Whatever remains of the property of insured after the insured has been compensated becomes the property of the insurer.
  2m 3s

• 12.    Highlight four essential features of any market.
  0m 34s

• 13.    Distinguish between derived and joint demand.
  0m 49s

• 14.    State four government initiated methods of protecting consumers from unscrupulous traders.
  1m 36s

• 15.    State four disadvantages of face to face communication in business.
  1m 19s

• 16.    Outline four factors which affect the circular flow of income.
  0m 33s

• 17.    State four features of bonded warehouse.
  1m 30s

• 18.    Outline four measures that can be used that can be used to stimulate employment in rural areas.
  1m 45s

• 19.    State four features of monopoly market.
  1m 9s

• 20.    Outline four merits of a short chain of distribution.
  0m 55s

• 21.    State four factors that can influence the location of a firm.
  1m 27s