BUSINESS STUDIES
Instructions
Do the questions in your exercise book.
1. Define the following terms:
Need ______________________
Want ______________________
2. Distinguish between needs and wants
i)____________________________________
ii)___________________________________
iii) ______________________________________
iv)____________________________________
v)_____________________________________
3. Distinguish between goods and services
i)______________________________
ii)______________________________
4.Why are goods and services produced? Give five reasons.
i)______________________________
ii)__________________________________
iii)_______________________________
iv)_____________________________
v)__________________________________
5. Patrick wants to buy a mobile phone. Suggest to him place he can buy the mobile phone. i)________________________________
ii)________________________________
iii)________________________________