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    Form 2 Business Studies Exams and Marking Schemes Free

    Hillary KangwanaBy Hillary KangwanaMay 31, 2025

    BUSINESS STUDIES FORM TWO MARKING SCHEME T3 2023

    1. -Increase in buyers ability to purchase more goods
    • Increase in population
    • Favourable legal-political environment e.g fair taxes
    • Improved technology
    • Favourable cultural environment
    • Fair competition

     

    1. -Resources are scarce
    • Human wants are endless
    • They are recurrent (repetitive)
    • They are competitive
    • They are habitual

     

    1. –Public
    • Private
    • Free
    • Bonded

     

    1. –Insurable interest
    • Doctrine of Utmost Good Faith or “Uberrima Fidei”
    • Indemnity
    • Proximate cause
    • Subrogation
    • Contribution

     

    1. –Credit facilities

    -After sale services

    – Avail a variety of goods

    -Offer advice

    -Avail goods to consumers

    -Break bulk

     

    1. –Marine hull

    -Marine Cargo

    -Port policy

    -Voyage policy

    -Floating

    -Time

    -Mixed

    -Fleet

    -Composite

     

     

    1. –Holding companies

    -Cartels

    -Privatisation

    -Absorptions/Take-overs

    -Mergers(amalgamation)

    -Check-off system

    -Burial benevolent funds (B.B.F)

    -Front office savings account (FOSA)

    -Franchising

    -Trusts

    -Globalisation

    -Performance contract

     

    1. –Product

    -Primary demand

    -Institutional

    -Competitive/persuasive

    -Celebrity

    -Reminder

     

    1. -Voluntary and open membership

    -Democratic administration

    -Limited interest on share capital

    -Co-operation with other co-operatives

    -Promotion of education to members

    -Provision of dividends to members

     

    1. –Transport

    -Communication

    -Warehousing

    -Advertising

     

    1. –Easy to supervise workers

    -Easy location of workers

    -Promote team work

    -Floor space is saved

    -Cheap to decorate

    -Maintenance cost is low

    -Discourages absenteeism by employees

    -Construction cost is low

     

    1. –Insufficient funds in the account

    -Stale cheque

    -When the cheque is post-dated

    -If the drawer has closed his/her account with the bank

    -When the signature of the account holder differ from the specimen in the bank

    -A bank learns about death, insanity or bankruptcy

    -When the cheque has been altered and the drawer has not signed against the alteration

     

    1. –Insufficient quantities

    -Poor quality goods

    -Poor services

    -Lack of goods

     

    1. –When launching a new product

    -When a product is tailored to meet customer’s specification

    -When demonstration is required

    – When the value of the product is high

    -When the organization can afford to finance the sales force

    -Where the market is concentrated in one area

     

    1. –Partner’s contributions

    -Loans from banks

    -Trade credit

    -Buying goods on hire-purchase terms

    -Retained profit

    -Leasing and renting

     

     

    1. The sender – Person from whom the message originates

    Message – The information to be sent

    Medium/channel – Means through which the message is to be sent

    The receiver – A person for whom the message is intended

    Feed-back – The reaction of the receiver to the message

     

    1. Cost –should be affordable i.e both initial and maintenance cost

    Adaptability – Should be able to cope with future changes and development

    Possibility of hiring rather than buying – one has to consider the cost and convenience of buying an equipment as opposed to hiring

    Durability – one has to consider the lifespan of equipment

    Effect on staff morale – the attitude towards equipment

    Availability of complementary resources – e.g power and availability of spare parts

    Availability of manpower required to run and operate the equipment

    Availability of room to store the equipment

    Security of the equipment

     

    1. – Assist a student to relate the knowledge, skills and attitudes acquired to the day to day business activities
    • Equips a student with knowledge and skills necessary to start and run a business
    • Assist a student to appreciate the role of business in provision of goods and services
    • Makes a student to appreciate the need for good business management practices
    • Assist a student to acquire self-discipline and positive attitude towards work
    • Equips a student to understand the role of government in business
    • Equips a student with abilities to promote co-operation in society through trade
    • Helps a student to develop positive attitude towards the environment
    • Equips a student with ability to understand the role of communication and information technology in modern business management

     

    1. –Helps people to acquire what they may not be able to produce
    • Avails a variety of goods and services – helps producers to dispose off their surplus produce
    • Creates employment
    • Encourages specialization and division of labour
    • Promote social relations and understanding among parties involved
    • Provides revenue to the business people and the government
    • Ensures steady supply of goods and services

     

    1. a) Cost – The cheapest means should be chosen
    2. b) Nature of goods – Perishable goods require a fast means while heavy and bulky goods

    requires a means of transport convenient for such goods

    1. c) Reliability – A means that assures that goods will reach the intended destination at the right time and in the right form should be chosen
    2. d) Urgency – Goods that are urgently required need the fastest means available
    3. e) Security – Means chosen should ensure that goods on transit are safe against loss, theft

    or physical damage

    1. f) Distance – Some means are suitable for long distances while others are suitable for

    short distances

    1. g) Availability of means – means should be selected based on its availability
    2. h) Flexibility – Should be able to be manipulated to suit the convenience of the transporter
    3. i) Terminals – Some means of transport may have their terminals near the transporter

    than others

    1. Barriers to effective communication
      • Noise
      • Negative attitude
      • Bad weather
      • Emotional response
      • Poor listening

     

     

     

     

     

    22.Reasons for government involvement in business.

    • To prevent exploitation to consumers
    • To provide sensitive goods
    • To provide essential goods
    • To attract foreign investors in the country

    23.The needs for consumer protection

    • To protect consumers against harmful products
    • To protect consumers against misleading advertisement
    • To protect consumers against illegal goods
    • To protect consumers against hoarding

    24.Elements of transport

    • Unit of carriage
    • Ways
    • Terminal
    • Method of propulsion

    25.Consideration before giving credit

    • Credit worthiness of the buyer
    • The repayment period
    • Ability to pay
    • Frequency of the buying from the seller
    • Amount of goods needed

     

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