Reference no: EM132709666
1. a) Discuss five importances of entrepreneurship to an economy.
b) Explain five measures that the government may take to curb inflation.
2. a) Discuss five problems linked to rapid population growth.
b) Explain five factors that may hinder economic development.
3. a) Explain the differences between non-banking financial institutions and commercial banks.
b) Discuss five circumstances under which an insurance company would not compensate the insured in the event of loss.
4. a) Highlight five situations where demand may increase with increase in commodity price.
b) Give five reasons for differences in terms of trade between countries.
5. a) Explain five benefits of localization of industries.
b) Explain five reasons why consumers need protection against malpractices by some traders.
6. a) Explain five ways in which the government can influence the price of a commodity.
b) Oriabengi shop sells all its goods at a margin of 20%. For the year ended 30th April 2006, its trading activities were as follows:
Purchases 800,000
Sales 950,000
Net profit 5% of sales
Closing Stock 200,000
Calculate:-
The gross profit
Opening stock
Mark-up percentage
Net profit
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