BUSINESS YEAR 7 END OF SEMESTER.

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)

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)

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)

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)