BUSINESS YEAR 7 END OF SEMESTER.

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  2. 7 Grade
  3. By john owino
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NAME: BUSNESS YEAR 7 END OF SEMESTER. Q1.Identfy two stages of business activity (4mark) Q2. Define opportunity cost (2mark) Q3. Identify the four factors of production (8mark)

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Q4. Define needs (2mark) Q5.Identify two forms of business organisation other than supermarkets and fish canning found in the private sector. (4mark) Q6. Define a public sector (2mark) Q7. Outline how the decision about what to produce and how to produce are made in private sector in a mixed economy. (4mark)

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Q8. Explain two differences between primary sector and a secondary sector in a business activity. (8mark) Q9. Define entrepreneur. (4mark) Q10. Identify four characteristics that may make Jesse a good entrepreneur. (8mark)

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Q11. Explain two benefit to Iris of preparing a good business plan (4mark). Q12. Outline how the business might achieve growth through forward vertical integration. (4mark)