Day: December 10, 2020

Losses caused by the insurers carelessness i.e not accidental Incase the insured has no insurable interest in the property Incase of accident / loss is not directly related to the risk insured Incase the insured has not paid premiums as Read More …

Benefits of privatization Kenyans enjoy improved products and services due to research carried out by privatised firms The spirit of competition enhances good management hence efficiency Consumers enjoy fair prices of products and services due  to minimal wastes if any. Read More …

Price mechanism- The interaction of demand and supply in the market .  Government policy – Through taxation subsidies and price controls   Auction – Prices suggested by prospective buyers

C.W.O –  Cash with order – The buyer  must  pay for the goods when he makes an order. C.O.D –     Cash on Delivery –  Payment is effected when goods are delivered to the buyer. F.O.B – Free on board . Read More …

Higher production leading to low cost of goods per unit thus higher profits Large market due to lower prices and no competition Reduced competition increases sales Advantages of specialisation Better management as a result of combined pool of specialist / Read More …

Incase of the  essential goods that must be consumed Ostentatious goods that must be consumed Luxurious goods like cars Inferior goods i.e goods for the poor Geffen goods e.g bread