Mid-Annual Examination 2014

Class: 8 O
Marks: 50

Paper: Business
Time: 1 hour 30 min

Attempt all Questions

Question no.1 (a): What is opportunity cost? Explain with the
help of an example. [3]
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(b): What are the four factors of production? [4]
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(c): Define added value with the help of an example. [3]
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Question no. 2: There are three stages involved in the
production of a product, each stage is important for a
product to bring into the hands of a consumer.

(a): Explain the three stages involved in the production of a

product. [6]
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(b): Define entrepreneur, and briefly explain any three
characteristics of a successful entrepreneur. [4]
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Question no.3 (a): Briefly explain any four methods of comparing
the size of a business. [4]
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(b): Give two advantages of partnership. [2]
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(c): Give one advantage and one disadvantage of public limited
companies. [2]
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(c): What is franchise? Briefly explain. [2]
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Question no. 4: (a) Define business objectives. [2]

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(b): Define any two business objectives.[4]
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(c): What are stakeholders? Briefly explain any two types of
stakeholders.[4]
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Question no.5: (a)

Define motivation. Explain in detail Maslows hierarchy of needs.

[10]
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