Disadvantages of operating a closed office layout and other business studies paper 1 questions and answers

Disadvantages of operating a closed office layout.

  • No close supervision of workers.
  • Costly to construct and maintain.
  • May encourage absenteeism.
  • May encourage laxity.
  • Reduces interaction between management and other employees.
  • Officers may take a lot of time when moving from one office to another.
  • Possible misuse of office facilities

Benefits a trader may get by operating a current account.

  • The traders can withdraw money at time without notice.
  • Cheques are used for payments instead of cash.
  • Traders can arrange for overdrafts facilities with the management of the bank.
  • The bank can pay on behalf of the traders such as standing orders.
  • there is no minimum balance required in the account.
  • Purchases can be made using postdated cheques

Types of direct taxes.

  • Income tax.
  • Corporation tax.
  • Capital gain tax.
  • Death/estate duty.
  • Stamp duty
  • Wealth tax
  • Capital transfer/gift tax

Advantages of transporting oil products through pipeline.

  • Not affected by bad weather or climatic condition hence ensuring continuous flow of commodity.
  • It is safe and reliable since the pipes are buried underground.
  • It is cheap to maintain.
  • Large volume can be transported with short time.
  • Pipelines can be constructed through rough terrain, mountain and swamps.
  • Oil products can be transported faster through pipeline compared to roads or railway.
  • Damage on roads is reduced since the number of oil tankers on roads is less.
  • Pipeline causes less environmental pollution.
  • The oil transported through the pipeline is not likely to be contaminated since only one commodity is transported at a time.
  • Number of accidents on rods will be reduced since there are few tankers on roads.

Characteristics of underdevelopment in a country.

  • High level of poverty.
  • Disparity in income distribution.
  • Low level of savings and investments.
  • High population growth rate.
  • Dominance of substance sector.
  • Problem of unemployment.
  • Underutilization of national resources.
  • Dependence of the developed countries.
  • Low level of technology.
  • High proportion of labour force engages in agriculture

Acts of parliament used by the government to protect consumers.

  • Public health act.
  • Weights and measures act.
  • Food and drug act.
  • Licensing act

Sources of monopoly power to a firm.

  • Control of an important input in production.
  • Ownership of production rights.
  • Internal economies of scale.
  • Size of the market.
  • Additional cost by other firms.
  • Where a group of firms combine to act as one.
  • Restrictive practices.
  • Financial factors

Importance of warehousing to a business.

  • Ensures steady supply of goods.
  • Helps to stabilize prices.
  • Goods are protected from theft and damage.
  • Ensures continuous production of goods.
  • Can meet unexpected demands.
  • Goods can be prepared for sale.
  • Goods can improve in quality while in the warehouse.
  • Encourage specialization.
  • Enables the trader to look for market
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