Question One
Define Commerce and its relationship with other disciplines in business studies.
(10 Mks)
Explain the main characteristics of the following types of trade local trade:
Local trade
(5 Mks)
International trade
(5 Mks)
Question Two
Discuss the main characteristics of factors of production.
(10 Mks)
What do you understand by division of labour concept as used in economics?
(10 Mks)
Question Three
What role does insurance play in the economy of Kenya?
(10 Mks)
Explain the advantages of road transport in Kenya.
(10 Mks)
Question Four
Discuss the characteristics of ten business documents used to transport school business with other business firms. (20 Mks)
Question Five
Explain five principles of Insurance.
(10 Mks)
Discuss the importance of warehousing services to the economy of Kenya.
(10 Mks)
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