BUSINESS ENVIRONMENT AUGUST 2022 PAST PAPER

WEDNESDAY: 3 August 2022. Afternoon paper. Time Allowed: 3 hours.

Answer any FIVE questions. ALL questions carry equal marks. Do NOT write anything on this paper.

QUESTION ONE

1. Explain the following pricing strategies:

Market penetration. (2 marks)

Market skimming. (2 marks)

2. Describe three categories of business cycles. (6 marks)

3. Discuss three harmful effects of high rate of inflation. (6 marks)

4. Enumerate four objectives of economic policies. (4 marks)

(Total: 20 marks)

QUESTION TWO

1. Outline six limitations of market-driven globalisation. (6 marks)

2. Analyse four benefits of technology to business. (8 marks)

3. Describe three methods of evaluating a country’s economic performance. (6 marks)

(Total: 20 marks)

QUESTION THREE

1. Explain the following terms:

Market equilibrium. (2 marks)

Shortage. (2 marks)

Surplus. (2 marks)

2. Describe four types of a company’s growth strategies. (8 marks)

3. Summarise six benefits of protectionism. (6 marks)

(Total: 20 marks)

QUESTION FOUR

1. Enumerate six limitations to the industry life-cycle analysis. (6 marks)

2. State four advantages of a market system economy. (4 marks)

3. Discuss five characteristics of Modern Businesses. (10 marks)

(Total: 20 marks)

QUESTION FIVE

1. Distinguish between market segmentation and market targeting. (4 marks)

2. Identify four reasons why a company must put in place a working organisation structure. (8 marks)

3. Describe four factors influencing the level of competition. (8 marks)

(Total: 20 marks)

QUESTION SIX

1. Analyse six effects that an increase in the price of crude oil has on other commodities. (6 marks)

2. Describe four benefits that accrue to a country as a result of engaging in international trade. (8 marks)

3. Discuss three demographic factors that influence economic activities. (6 marks)

(Total: 20 marks)

QUESTION SEVEN

1. State six factors that affect the supply of a commodity. (6 marks)

2. Describe three roles of cross elasticity. (6 marks)

3. Analyse five components of financial system. (8 marks)

(Total: 20 marks)

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