Form
4: Principles of Business
7/5/20
1.
Barter is an early business principle
a. Explain
the term barter.
b. Identify
and explain three problems linked to barter.
c. Explain
in your own words how the introduction of money solved any one of the
problem identified above.
d. Briefly
explain the difference between a subsistence and money economy.
2.
Answer the following about money:
a.
Define the term money.
b.
Identify four instruments of payments used
today other than notes and coins.
c.
Describe four features which must be
present for something to be considered money.
d.
Explain four functions of money in a
modern economy.
3.
Make a comparison between the private
sector and that of the public sector in terms of :
i.
ownership and control
ii.
objective or motive
iii.
source of capital
N.B:
The
private sector includes all businesses owned by private individuals while
public sector includes the ones owned by the state or government.
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