QUESTION ONE
(a)Discuss the following terms and explain their importance to the success of business and economy.
i. Human resource management
ii. Industry
iii. Small scale business
iv. Business environment
v. Customer utility (20 marks)

(b)What is business ethics? Explain different sources of ethics. (10 marks)

QUESTION TWO
(a)You have been elected the union representative in your company. Discuss methods that you can use to achieve your union objectives. (10 marks)

(b)What is a limited company and how is it different from a partnership?
(10 marks)
QUESTION THREE
(a)In view of the benefits of training, is it justified to spend money on staff training in a company? (10 marks)

(b)Differentiate between consumer and industrial goods markets.What factors do you think determine the consumer goods buying behaviour? (10 marks)

QUESTION FOUR
(a)Define international trade and discuss its advantages. (10 marks)

(b)Define marketing and explain the five marketing philosophies. (10 marks)

QUESTION FIVE
Define the various sources of finance for a business and explain the factors that affect the cost of capital in an economy. (20 marks)

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