EXAM STYLE QUESITONS

1. (a) Define the term ‘enterprise’ and identify four stakeholders of a business.
(b) State four reasons for establishing a business.
© Outline the contribution of businesses to their communities.
(d) Distinguish between a ‘cooperative’ and a ‘company’ giving an example of each.

2. (a) Outline two functions of a business.

(b) State two ways in which a sole trader if different from a partnership.
© Define the term ‘franchise’.
(d) Identify four popular franchises.
(e) Discuss two advantages of operating a franchise.

3. (a) State four characteristics of a partnership and four characteristics of a Private Ltd. Company.
(b) Discuss the benefits a company would enjoy If it converted from a Partnership to a Private
Ltd. Company.
© Outline three distinguishing features of a free market economy as opposed to a planned or
command economy.

4. (a) Compare the private and public sectors giving three features of each.
(b) Outline two benefits of a business to both a sole proprietor and a community.
© Discuss how the government can promote business activity in the country.