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KIKAAYA COLLEGE SCHOOL END OF TERM I EXAMS 2008 S.6 P230/2 ENTREPRENEURSHIP EDUCATION TIME: 3 HOURS Instructions: Answer all questions. SECTION A 1(a) (i) What is meant by “market assessment”? (ii) Mention any three reasons for carrying out market assessment. (b) State any four documents used when purchasing goods for an enterprise. (c) (i) Define the term inventory. (ii) Mention any three types of inventories in an enterprise. (d) (i) Define the tern “quality control”. (ii) State any three reasons for quality control during production. (e) Sate four factors that influence decision making. (f)

Give four ways through which the society influences the behaviour of an entrepreneur.

(g) (i) What is meant by self- assessment? (ii) Sate three risks that encountered by being in a business. (h) Give four steps in the criteria to be considered when preparing an advertisement. (i)

Mention any four factors that influence savings in a business.

(j)

Given the Net sales of sh. 2,.000, 000 and cost of sales sh. 1, 600,000. Calculate the: (i) Gross profit margin (ii) Gross profit mark-up.

SECTION B. 2(a) What is a contract? (b) Give the importance of contracts to business. (c) What circumstances of contracts lead to termination of contract? (d) Give the different laws that relate to business 3(a) What is a business career? (b) What factors determine the selection of a legal form of business? (c) What are the advantages of business as a career? (d) Give the steps involved in commencing business operations. 4(a) What is a “work place? (b) Give and explain the different aspects of a workplace an entrepreneur should take care of? (c) Why is it important to keep records about the production process? (d) What can an entrepreneur do to reduce the costs of production?

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