d. Appropriate methods of transportation include: Fresh flowers – An air condition van because the van would have more space to avoid squeezing the flowers and damaging them, also to avoid wilting in the heat air condition is necessary. Cement – A since it is bulky and heavy. Daily newspaper – A van because it is enclosed and would protect it from wind and rain. Money – A armored vehicle for security. 4. a. An individual may want to start a business to; 1. Be his own boss and not be employed by anyone so that he can make his own decisions. 2. To earn an income which is not limited to any fixed amount. b. Business contribute to the development of a community by: 1. Creating employment in a community which can lead to a better standard of living in the community. 2. A business provides a service to people in the community in which all members of the community can benefit. 3. Business sometimes sponsor events and do charitable work in a community which help in the development of the community.
a. A contract is a legally binding agreement which is enforceable by law. b. A simple contract can be: 1. Verbal or written. 2. Must have offer, acceptance and consideration. 3. Need not be signed. c. A breach of contract is where one of the parties to the contract fail to carry out his part of the agreement. d. Daliah will not succeed in her law suit. e. A promise is not a contract because there was no consideration, something was not given up to acquire the cellphone. a. Two criteria used to classify a firm as small are: Its profit must be within a particular profit range. It must have a particular asset value. b. Small enterprises contribute to the development of an economy in the following ways: 1. By providing essential services and support to larger firms. 2. By creating employment which contributes to the Gross Domestic Product of a country. c. A cottage industry is a small business which originates at home and is of a handicraft nature. 3. a. A market structure is the way in which markets are designed or organized in order for firms to sell their products. b. Perfect competition – A very large number of buyers and sellers.
of the following practices may be MOST appropriate in solving the unemployment problem in developing countries where the labour force is large? greater production through increased labour increased mechanisation increase in vocational training programmes increase in salaries i only i and iii only ii and iii only ii and iv only Which of the following describes capital intensive industry? amounts of capital and very little labour amounts of labour and very little capital all capital and no labour capital and labour in the same proportion? Which of the following BEST describes productivity? what is produced against the cost of labour G.N.P of one year against G.N.P of another year profit against costs of sales What is produced against the factors of production of the following are characteristics of a “perfect market” there are many buyers and sellers the buyers are aware of the price of the goods the of the goods must be fixed by supply or demand must be several types of the commodity on sale i and iv only ii and iv only i, ii and iii only ii, iii and iv only
Commerce Capital Saving What is the most likely effect on a developing economy when professional and skilled labour migrate to developed countries? Unskilled labour can demand higher wages. The demand for skilled labour and professional services will decrease. Unskilled labourers can work harder. Production levels of goods and services will decrease. The person responsible for bringing together and organizing the factors of production is the Trade Unionist Entrepreneur Manager Financier Which of the following are classified as primary industries? Farming Services (direct and commercial) Manufacturing Mining 1 and 11 only 1 and 1V only 11 and 1V only 1,11,111 and 1V Which of the following are examples of extractive industries? Mining Refining