TERM 2 2021
MID TERM EXAMS
FORM 1 BUSINESS STUDIES
TIME 1HR
TOTAL MARKS 30

NAME………………………………………………………..CLASSS………..ADM………

INSTRUCTIONS 
Answer ALL questions
1.  State the term given to each of the following disciplines			
a. Study of how man strive to satisfy his unlimited wants using limited resources ---------------
     												(1mk)

b. Study of trade and aids to trade --------------------------------------- 			(1mk)

c. Study of activities that are carried out in an office ----------------------------------------	(1mk)

d. Study of identifying a business opportunity and acquiring resources to start and run a 

   business    ------------------------------------------------------------				(1mk) 

2.  List four characteristics of human wants.							 (4mks)

3. List four factors of production and their respective rewards. 				(4mks)

4. State four characteristics of an entrepreneur.						 (4mks)

5. Highlight four gaps in a business opportunity. 						(4mks)

6. Identify five functions of an office. 							(5mks)

7. For each of the following functions, state the machine responsible. 			(5mks)
FUNCTION	MACHINE	
For printing postage impression on an envelop		
Cutting unwanted documents into tiny pieces		
Used to reproduce documents		
For preparing cash receipts		
Used to send and receive messages