BUSINESS STUDIES FORM 1

Group Assignment 3
Term 2
Marking Scheme

1. – unlimited number
- can be satisfied as long as one has the means
- They are complementary
- Compose with one another
- Vary in urgency and intensity
- They are insatiable
2.
i) Possession utility
ii) Place utility
iii) Time utility
iv) Form utility (4 x 1 = 4mks)
3.
(a) Benefits that may accrue to a country with a large proportion of skilled labour
force include:
(i) Saving on foreign exchange that would have been used to pay expartriates/
imported labour.
(ii) Production of high quality goods/services as the workers are experts in their
respective areas.
(iii) Increased output of goods/services as the workers are competent due to
exploitation of resources.
(iv) Reduction in cost of production since the labour tends to be efficient/less
wasteful.
(v) Increase in purchasing power/demand due to higher incomes/salaries earned.
(vi) Reduction in dependency ratio since the employment rate is higher.
(vii) Enhances creativity/innovation/research leading to new/improved/variety
of goods/services.
(viii) Promotes specialization/division of labour leading to faster production.
(ix) Easen/simpilify setting of wage/employment policy due to abundance/
availability of skilled labour/may reduce labour stife/unrest.
(x) Increased government revenue due to income taxes levied.
(xi) Increased foreigh exchange due to export of skilled labour.
(xii) Enhances entrepreneural culture since skilled labour is more willing to
undertake risks.
(xiii) Adaptability/flexibility as they are ready to embrace changes.
Any 5 @ 2 = 10 marks
4.
2002 Office task Equipment
Printing stamps impression and envelopes Franking machine
Cutting papers into required sides Franking machine
Pinning papers together Stapler
Recording processing, storing, retrieving information
Computer
5.
a) Supervision enhanced
b) Resources are evenly shared
c) Saving on space
d) Cheaper to construct/ easier to construct
e) Inter- personal relationship

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 f) Workflow made easy
g) Services delivery enhanced
6. (a) Collecting information.
(b) Receiving information.
(c) Storing information.
(d) Distributing information.
(e) Production and reproduction of documents.
(f) Centre for administration.
(g) Mailing.
(h) Communication centre.
(i) safeguarding and controlling
7.
a) Catalogue
b) Invoice
c) Statements of account
d) Cash sale receipt
8.
 Where goods sold are of technical nature and may need advice/demonstration on use.
 Where expertise is required in installation and the trader has technical
knowledge/ability/ backup.
 Where the product is new in the market and the trader requires feedback on the
product’s performance.
 Where competition is stiff and the trader uses after sales services as a product
promotional tool to win more customers and increase sales.
 Where expertise is required in maintenance/service/repairs and the trader is able to
provide the service.
 Where it is the policy of the business as a way of improving customer relations and
improve business image.
 Where it is the government policy, the trader will have no option.
 Where the nature of the product is such that is requires specialized transport and the
trader can provide it.
7.
 Government support/favourable government policies/funding regulation of
Business activities may encourage the emergence and expansion of business
ventures.
NB. Accept examples of favourable government policies as mentioned.
 Training/education in entrepreneurship- trainees are equipped with
skills/knowledge to undertake entrepreneurial activities to start/to run businesses.

 Entrepreneurial culture/cultural practices that encourage entrepreneurship through early

exposure to business activities /opportunities/positive attitude towards business.

 Presence of role models/interaction with successful business people who may

inspire/ create interest in entrepreneurship/business ownership.

 Availability of capital/loans/credit facilities for start/expanding a business(may

facilitate entrepreneurship.

 Political stability/non political interference that creates a conducive environment

for starting/running/expanding business.
 Availability of market/market information- people venture into business to
satisfy customers where there is a gap in their needs/where they can sell their
goods/services
 Good infrastructure – This facilitate access to market/input.
 Availability of security that ensures safety of businesses/property/business
owners.

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  Healthy/fair competition – that business owners can withstand/cope with.

 Good governance that ensures transparency/accountability in conducting business

activities.

 Availability of technology that can lead to the production of desired

quality/quantity of goods/services

 Employment creation – for self/others.

 Independence/needs for self reliance through earning an income/livelihood.

 Need to exercise power by having people working for him/her/exercise authority

over the employees.

 Need for recognition by society/peers/to be appreciated

 Need for individual security against hardships, old age and sickness

 Need for self actualization/fulfillment by giving back to society/helping/assisting others.

8.
- Receiving Information
- Sending out information
- Processing information
- Reprographic purposes
- Filling documents for future reference
- Safeguarding organizations assets
- Recording information
- Offer administrative facilities