Questions

Question 1

Factors of production

Answer 1

land, labor, capital, and entrepreneurship.

Question 2

Five characteristics of natural resources

Answer 2

Some natural resources can be replaced while others cannot

Very often natural resources have to be processed as they cannot be used in their natural state

Different places have different kinds of natural resources

Limited availability

Potential for depletion or consumption

Question 3

Types of labour skills

Answer 3

Unskilled labour
Semi skilled labour
Skilled labour
Highly skilled labour

Question 4

Examples of unskilled labour

Answer 4

Cleaners
Gardeners
Farm workers

Question 5

Examples of semi skilled labour

Answer 5

Cashiers
Machine
Miners

Question 6

Skilled labour

Answer 6

Hairdressers
Plumbers
Clerks

Question 7

Highly skilled labour

Answer 7

Lawyer
Doctor
Teacher

Question 8

Types of capital

Answer 8

Own capital

Borrowed capital

Question 9

What are they role of workers in business

Answer 9

Workers are the factor of production

They’re employed to create products and provide services

They contribute to the Gross Domestic Product of the country

Question 10

What duties do workers have

Answer 10

Workers should do what they were employed to do within legal boundaries

Avoid being absent without a reason

They should be punctual

Not sleep on duty

Question 11

What is the acceptable behavior of workers

Answer 11

Should not insult fellow workers

Not fight in the workplace

Be honest and not commit fraud

Question 12

What are they conditions of employment

Answer 12

The act aims to protect vulnerable workers and improve their working conditions

Question 13

What does it cover

Answer 13

Working hours
Overtime
Public holiday
Sick leave
Other leave
Maternity leave
Family responsibility
Termination of employment

Question 14

Types of market

Answer 14

Factor market

Financial market

Question 15

Working hours

Answer 15

Maximum of 45 hours per week with a lunch break of an hour after 5 hours of workers

Question 16

Overtime

Answer 16

Maximum of 10 hours a week or three hours a day

Question 17

Public holidays

Answer 17

Of employees must work on these days they must be paid double the normal rate

Question 18

Sick leave

Answer 18

30 days over a cycle of 36 months if they work five days a week or 36 days of they work 6 days a week

Question 19

Normal leave

Answer 19

21 days after 12 months of unbroken full time employment

Question 20

Maternity leave

Answer 20

4 months unpaid

Question 21

Family responsibility

Answer 21

3 days a year

Question 22

Termination of employment

Answer 22

To end a contract a notice period of a weekend if worked for less than a month, two weeks if worked for less than a year, four weeks if worked for more than a year

Question 23

Basic rights

Answer 23

Right to:work, freedom of association, collective negotiations, strike, protection, training

Question 24

Examples of direct tax

Answer 24

Personal income tax
Company tax
Capital gain tax

Question 25

Example of indirect tax

Answer 25

Value added tax(VAT)
Excise duties
Custom duties
Fuel tax