Most candidates were able to :
-           list business opportunities opened to the wood machinist;
-           list sources of funds in establishing a wood machine shop.

However, some candidates were unable to state possible threats to a wood machine shop business.

The expected responses to the question is given below:

(a)       Four business opportunities opened to the wood machinist:-

                                    *           wood turning;
                                    *           mortising and tenoning;
                                    *           panelling and moulding;
                                    *           frame construction;
                                    *           spraying shop practice;
                                    *           chair making;
                                    *           boat building;
                                    *           band sawing;
                                    *           conversion of timber/saw milling;
                                    *           carpentry/joinery;
                                    *           furniture making.

(b)       Four sources of funds to establish business:

                                    *           personal saving;
                                    *           thrifts;
                                    *           bank loans;
                                    *           cooperative societies;
                                    *           investment in stocks;           
                                    *           buying of shares;
                                    *           family/friends;
                                    *           financial firms.
                                                                                                           
                        (c)        Three possible threats to wood machine shop business:

                                    *           competitors;
                                    *           electricity supply;
                                    *           funds;
                                    *           financial illiteracy;
                                    *           financial indiscipline;
                                    *           corruption;     
                                    *           rising cost of doing business/inflation;
                                    *           access to resources;
                                    *           difficulties of finding qualified/trained wood machinists;

                                      (d)     Overhead cost of operating wood machine shop covers:
                                                *           land rent;
                                                *           electricity bill;
                                                *           water bill;
                                                *           cost of maintaining physical infrastructure;
                                                *           company tax;
                                                *           human resources;
                                                *           problem of securing spare parts;