Some entrepreneurs debated that internal motivation in entrepreneurship is wastage of resources. Which statement evidences that internal motivation is an important aspect in entrepreneurship?

When drawing a supply curve it is automatically that the curve slopes upwards from left to right. Why does the supply curve slopes upward from the left to right?

Which bank account would you advise a trader to open if he/she wants to deposit/withdraw cash at any time and allows overdraft to its customers?

Suppose you have attended a commercial debate with the motion “aids to trade is not necessary element of commerce”. Which option will you choose as correct to oppose the motion?

The following are the roles of entrepreneurship in economic development except:

(b) You have been given maize flour stock information for the month of February, 2018 as: Opening stock………....500 bags Weekly sales…………..700 bags Minimum stock...……..300 bags Closing stock...………..200 bags Delivery time...………..02 weeks (i) Calculate Order point. (ii) Calculate Average stock. (iii) Interpret the answers obtained in part (i) and (ii).

1. Calculate Order point. (3 mk)
2. Calculate Average stock. (3 mk)
3. Interpret the answers obtained in part (i) and (ii). (4 mk)

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Suppose your commerce teacher had assigned you to prepare the class presentation about the essential elements of communication. Briefly explain five essential elements of effective communication that you will consider in your presentation.

1. The situation from which the tax payers omit or refuse to declare their business income for tax payment. (1 mk)
2. Briefly explain five essential elements of effective communication. (10 mk)
3. The tax which its tax rate is determined by basing the value of the goods. (1 mk)
4. The tax which is levied at each stage of production. (1 mk)
5. The situation in which the tax payers provide incorrect record so as to be charged with less amount of tax. (1 mk)
6. The tax system from which the percentage of tax paid is inversely to the income of the tax payer. (1 mk)

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5. (a) Mbao furniture industry needs to advertise its new products to the public by using magazine instead of newspapers. Why do you think it is better for the industry to advertise its product through magazine than newspapers? Give two reasons.

1. Briefly explain four essential levels of stocks which should be maintained in a food store. (8 mk)
2. Why is it better for the industry to advertise its product through magazine than newspapers? Give two reasons. (4 mk)

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(b) Standardizing and grading is one of the marketing functions. With three points, briefly explain how grading become necessary in marketing the products.

1. Briefly explain how grading becomes necessary in marketing the products with three points. (6 mk)

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6. (a) Miss. Papaye is a large retail trader who insured her business under general accident with insurer and she took a burglary insurance cover. Mention four policies that Papaye has to be given by insurer under burglary insurance cover.

1. Mention four policies that Papaye has to be given by insurer under burglary insurance cover. (4 mk)

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(b) Your uncle fears taking-up a life assurance policy because he does not know what makes such policy to come to an end. Explain to him three factors that made the life insurance policy come to an end.

1. Explain three factors that made the life insurance policy come to an end. (6 mk)

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7. (a) Production is categorized into direct and indirect production and the categorization depends on their features. Describe two main features used to categorize production as indirect production.

1. Describe two main features used to categorize production as indirect production. (4 mk)

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(b) One of the villagers wants to engage in production of goods and services but he/she needs to know about the levels of production. Briefly explain to the villager that three levels of production.

1. Briefly explain the three levels of production. (6 mk)

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The trend of winding up private limited companies is increasing day after day. Justify this statement by giving six reasons for winding up of private limited companies.

1. Prove that Nash’s belief is wrong by providing six justifiable qualifications of the successful retailers. (15 mk)
2. State six reasons for winding up of private limited companies. (12 mk)

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Mr. Kashinde the winner of 20 million from Tatu Mzuka Jackpot wishes to invest in business as entrepreneur but he does not know how to identify the business opportunity available in markets. Assist him to discover various business opportunities for investment by explaining six ways that can use to discover business opportunity to invest in market.

1. Explain six ways Mr. Kashinde can use to discover business opportunities for investment in the market. (12 mk)

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