Question 1
- List four career opportunities available to a student of commerce.
- State two functions of an entrepreneur.
- Explain the following activities giving two examples each.
- extractive industry.
- construction industry .
- manufacturing industry
- tertiary industry.
Comments
Candidates who attempted this question performed well. However, some could not give examples of the industries.
The expected responses are.
- Career opportunities available to a student of commerce
- Functions of an Entrepreneur
- An entrepreneur organises all the other factors of production.
- He provides capital.
- He takes the final decisions on all matters concerning the business.
- He bears all the business risks.
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- Extractive industry
- Construction industry
- Manufacturing industry
- Tertiary industry
This deals with obtaining materials from nature or earth. Examples are farming, fishing, lumbering, mining and drilling
This involves the assembling of manufactured products into useable forms. It includes furniture making, construction of bridges, roads, rail and seaports.
This involves the changing of raw materials into finished and semi finished goods. Activities in this sector include making of vehicles, textiles, refining and brewing.
i.Trading/Wholesaling/Retailing | vii. Transportation |
ii. Marketing/Salesmanship | viii. Warehousing/Storekeeping |
iii. Agency | ix. Stock broking |
iv. Banking | x. Tourism |
v. Accountancy/Accounting | xi. Communication |
vi. Insurance | xii. Advertising |
This is concerned with the provision of commercial services including direct and indirect
services. It involves the distribution and exchange of goods and services. Examples are
banking, teaching, barbing, trading, entertainment, medical and legal services.