Name_______________________________________________

1. Define the term bartering

(2marks)

2. Explain the term instrument of exchange and give one example

(2 marks)

3. What is the role of Money

(1 mark)

4. List four (4) functions of Money

(4 marks)

5. List three (3) Characteristics of Money

(3 marks)

6. List 2 careers in business and explain their responsibility

(4 marks)

7. What is the difference between the Public and Private Sector

(2 marks)

8. Explain what is a sole trader

(2 marks)

9. Explain what is a franchise

(2 marks)

10.Explain what is a partnership

(2 marks)

11.List two (2) stakeholders in a business and give their roles

(4 marks)

12.Explain what is an economic system and give two types of them

(4 marks)
13.List two (2) unethical and Illegal practices
(2 marks)

14.List two (2) functional areas of business and give their role
(4 marks)

15.Explain the term Money laundering

(2 marks)

16.A system involving the exchange of goods depending on the ‘double

coincidence of wants’ is known as
A. Barter
B. Money
C. Specialization
D. Equal Exchange

17. Which of the following is NOT a function of money?

A. Indivisibility
B. Store of value
C. Measure of value
D. Medium of exchange

18. Which of the following practices are characteristic of a free economy?

I. Private ownership of assets
II. Central planning
III. Price-fixing
IV. Freedom of contract

A. I and III only

B. I and IV only
C. II and III only
 D. II and IV only

19. In which department of a manufacturing business would an engineer MOST likely

be found?
A. Production
B. Personnel
C. Marketing
D. Financial

20. In a public limited company, the losses are borne by the

A. staff
B. directors
C. community
D. shareholders