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Complete each of the following statements by filling in the blanks with correct word(s)

1. Goods that satisfy wants directly are................................................ (1 mk)
2. Trade across borders is ................................................ (1 mk)
3. Cost that remains unchanged is ................................................ (1 mk)
4. Selling goods at reduced price is ................................................ (1 mk)
5. Reward for capital is ................................................ (1 mk)
6. Goods kept for emergencies are ................................................ (1 mk)
7. The person who bears risk is ................................................ (1 mk)
8. Buying and selling is ................................................ (1 mk)
9. The document showing goods returned is................................................ (1 mk)
10. The reward for land is .................................................. (1 mk)

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Explain the followings (a) Stock administration (b) Demand curve (c) Consumer (d) Wholesale trade (e) Communication

1. Stock administration (2 mk)
2. Demand curve (2 mk)
3. Consumer (2 mk)
4. Wholesale trade (2 mk)
5. Communication (2 mk)

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State five advantages of large scale production.

1. State five advantages of large scale production. (10 mk)

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The table below shows stock records of Baraka Traders. Description, Quantity (kg) Opening stock, 300 Purchases, 1200 Closing stock, 400 Average daily sales, 50 (a) Calculate total quantity sold. (b) Calculate average stock. (c) Determine rate of stock turn.

1. Calculate total quantity sold. (5 mk)
2. Calculate average stock. (5 mk)
3. Determine rate of stock turn. (5 mk)

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Explain five causes of price fluctuations.

1. Explain five causes of price fluctuations. (15 mk)

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