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<=KNEC Craft Certificate in Supply Chain Management Module 1 : Commerce Past Paper July 2023
Define the term, entrepreneurship, as a factor of production
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Questions List:
1. State the meaning of the term, Commerce
2. State three levels of production
3. List four advantages of operating a small scale retail shop
4. State three similarities between a bill of exchange and a promissory note
5. List three characteristics of a public corporation
6. Distinguish between the terms, banking and bank, as used in financial transactions
7. State three elements of transport considered when moving goods and services from one place to another
8. State three factors considered when determining the amount of insurance premium
9. List three types of private warehouses
10. State the meaning of the following terms as (i)Share; (ii)Stock holder.
11. State two ways in which the government regulates commercial activities in the country
12. State two challenges of operating an online store as an emerging trend in business
13. Explain four reasons for studying Commerce
14. Define the term, entrepreneurship, as a factor of production
15. Explain four benefits of division of labour in production
16. Explain the meaning of, international trade
17. Explain four ways in which home trade may contribute to the growth of a country's economy
18. Highlight four circumstances under which Cash With Order (CWO) is used as a term of payment in home trade
19. Outline four reasons why savings and credit co-operatives are popular in Kenya
20. Explain the meaning of interest, as used in business transactions
21. Explain four factors that may determine the amount of money held by an individual for speculative motives
22. Highlight four advantages of pipeline as a means of transporting oil.
23. Explain the principle of, utmost good faith, in insurance
24. Describe the procedure followed in taking an insurance policy
25. Explain four features that a warehouse should have to function efficiently and effectively
26. Explain the term, security, as used in stock exchange
27. Outline four roles of the Nairobi Securities Exchange (NSE).(
1. State the meaning of the term, Commerce
2. State three levels of production
3. List four advantages of operating a small scale retail shop
4. State three similarities between a bill of exchange and a promissory note
5. List three characteristics of a public corporation
6. Distinguish between the terms, banking and bank, as used in financial transactions
7. State three elements of transport considered when moving goods and services from one place to another
8. State three factors considered when determining the amount of insurance premium
9. List three types of private warehouses
10. State the meaning of the following terms as (i)Share; (ii)Stock holder.
11. State two ways in which the government regulates commercial activities in the country
12. State two challenges of operating an online store as an emerging trend in business
13. Explain four reasons for studying Commerce
14. Define the term, entrepreneurship, as a factor of production
15. Explain four benefits of division of labour in production
16. Explain the meaning of, international trade
17. Explain four ways in which home trade may contribute to the growth of a country's economy
18. Highlight four circumstances under which Cash With Order (CWO) is used as a term of payment in home trade
19. Outline four reasons why savings and credit co-operatives are popular in Kenya
20. Explain the meaning of interest, as used in business transactions
21. Explain four factors that may determine the amount of money held by an individual for speculative motives
22. Highlight four advantages of pipeline as a means of transporting oil.
23. Explain the principle of, utmost good faith, in insurance
24. Describe the procedure followed in taking an insurance policy
25. Explain four features that a warehouse should have to function efficiently and effectively
26. Explain the term, security, as used in stock exchange
27. Outline four roles of the Nairobi Securities Exchange (NSE).(
