Day: December 9, 2020

A bill of exchange is an unconditional order from one party to the other to pay on demand or at a stated future date the sum on the bill.  It must be signed by the drawer and be accepted by Read More …

Characteristics of money Acceptability Portability Divisibility Durability Homogeneity Stability Scarcity Cognizability

Government methods of consumer protection. Setting up standards eg Kenya Bureau of Standards Price control Licences Food and Drugs Acts. Sale of Goods Act. Public Heath Act.

Features of multiple shops. Uniformity of the premises, external shop front, internal layout, etc Control is vested in the central organisation Buying if centralised and selling is decentralized through several branches. Deal only in a particular set of goods Sales Read More …

Benefits from co-operatives. Fair price for his her produce Reduced costs of transport, processing and marketing Get ideas regarding quality improvement, better methods of cultivation, etc Secure credit on reasonable terms than an individual could Purchasing farm equipment’s at reasonable Read More …

Problems of decentralization. Lack of trained personnel Lack of basic infrastructures such as roads Basic services like banking may not be found in all areas Inadequate market Certain benefits eg entertainment may not be found in the decentralized industries.  

Barriers to effective communication The language used The medium used Willingness of the receiver to listen Noise Attitudes of the communicators Poor planning Improper timing

Features of cooperatives. Voluntary Association i.e open to all Service motto ie serves its members and that profit is not the only motive One for all and all for one i.e self help through mutual help Democratic management Division of Read More …

Advantages of cheques. Secure since if stolen they can be traced Convenient to carry than coins and notes Payment can be made without the need to travel Acts as evidence of payment.

Factors to consider when choosing mode of transport. The cost of transport Speed and time taken Nature of goods Flexibility Packing requirements Distance to be covered Insurance risks.