KCSE 2013 Marking Schemes: Download Free Business Studies Paper 1 (565/1)

The KCSE 2013 Business Studies Paper 1 Marking Scheme is an invaluable resource for students preparing for their exams. It provides a comprehensive review of the paper, giving students a clear understanding of the expected answers and marking criteria. Here, we will provide a detailed analysis of the marking scheme to help you effectively revise for the exam.

The marking scheme begins by highlighting the importance of studying Business Studies. It explains that the subject equips individuals with the skills and knowledge necessary to manage a business, prepares them for future careers in business, and enables them to relate business issues to their environment and global business activities. Additionally, Business Studies prepares students for further studies and fosters creativity, sound judgment, discipline, and a positive work attitude.

The marking scheme then proceeds to outline the characteristics of a successful entrepreneur. These include being innovative and creative, goal-oriented, time-conscious, a risk-taker, a good decision-maker, a good networker, a good communicator, and having a future-oriented mindset.

Next, it covers various topics related to business, such as information management, international trade, unemployment, and changes in business capital. It provides detailed explanations and definitions for each topic, ensuring students have a thorough understanding of the concepts.

Furthermore, the marking scheme includes a trial balance for Wekesa Traders, allowing students to practice their accounting skills and check their work against the correct answers provided.

The marking scheme also covers topics such as unfair competition, inadequate technology, unstable political and economic environments, unfavorable legal frameworks, unreliable supply systems, strong consumer bargaining power, poor physical facilities and infrastructure, low population levels, insecurity, and unfavorable socio-cultural environments. For each of these topics, the marking scheme provides explanations and examples to help students grasp the concepts.

Additionally, the marking scheme discusses circumstances under which the capital of a business may change, entries such as bank overdraft, contra entry, cash received from debtors, and closing cash in hand. It also explains the requirements for forming a limited company and the actions the government can take to control inflation.

Finally, the marking scheme highlights the factors that may lead a producer to bypass the wholesaler when distributing goods, as well as the benefits of economic development, such as the attraction of foreign investment, creation of employment opportunities, improved security and health, increased production levels, enhanced movements of goods and services, increased per capita income, increased entrepreneurial activities, easier and faster communication, reduced cost of production, and equitable development.

Overall, the KCSE 2013 Business Studies Paper 1 Marking Scheme provides a comprehensive review of the exam, offering students the opportunity to practice their knowledge and understanding of the subject. It is an essential tool for effective revision and exam preparation.

In conclusion, the KCSE 2013 Business Studies Paper 1 Marking Scheme is a valuable resource for students preparing for their exams. It provides detailed answers and explanations, ensuring students have a clear understanding of the marking criteria. By using this marking scheme for revision, students can enhance their knowledge, improve their exam performance, and increase their chances of success.

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