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-Presence of close substitutes
-Habit forming commodities
--Durable products
-Necessities
-If the proportion of income spent on the good sis small
--If it is difficult for consumers to adjust in the short run
Kavungya answered the question on April 3, 2019 at 10:07
- The table below represents a farmer’s supply of cabbage in a local urban centre
Assuming the price remained constant state four reasons for the trends in...(Solved)
The table below represents a farmer’s supply of cabbage in a local urban centre
Assuming the price remained constant state four reasons for the trends in the supply of cabbages
Date posted: April 3, 2019. Answers (1)
- The following graph shows a shift in demand from D0D0 to D1D1
State four possible reasons for the above shift(Solved)
The following graph shows a shift in demand from D0D0 to D1D1
State four possible reasons for the above shift
Date posted: April 3, 2019. Answers (1)
- Elgon industries a producer of sweets and chocolates wants to launch its products in the
market. Outline four factors the firm should consider when choosing an...(Solved)
Elgon industries a producer of sweets and chocolates wants to launch its products in the
market. Outline four factors the firm should consider when choosing an appropriate medium
for promotion
Date posted: April 3, 2019. Answers (1)
- Below are terms used in sales promotions:-Competitive advertising -Product advertising(Solved)
Below are terms used in sales promotions:-
-Competitive advertising
-Product advertising
-Informative advertising
- Institutional advertising
-Primary demand advertising
Identify the most appropriate term described in each of the following case,
i) Aims at increasing the sales volume of the company’s entire range of products
ii) Provides relevant information about producers products
iii) Seeks to popularize the business enterprise offering goods for sale
iv) Seeks to promote the sale of a new variety of a company’s creations
Date posted: April 3, 2019. Answers (1)
- A private warehouse owner insured his warehouse valued at Kshs.400, 000 for Kshs600, 000
against risk of fire. The warehouse was later destroyed completely by fire...(Solved)
A private warehouse owner insured his warehouse valued at Kshs.400, 000 for Kshs600, 000
against risk of fire. The warehouse was later destroyed completely by fire including goods worth
shs 100,000.
Required:
i) Determine the amount of compensation paid by the insurance company
ii) Give a reason for your answer in (i) above
Date posted: April 3, 2019. Answers (1)
- Define the following types of marine insurance losses:-
(a) Total constructive loss
(b) General average loss(Solved)
Define the following types of marine insurance losses:-
(a) Total constructive loss
(b) General average loss
Date posted: April 3, 2019. Answers (1)
- State four reasons why few Kenyan take out life assurance policy(Solved)
State four reasons why few Kenyan take out life assurance policy
Date posted: April 3, 2019. Answers (1)
- The following are description of various insurance policies. Identify the name of the policy
described by the statement:
Description ...(Solved)
The following are description of various insurance policies. Identify the name of the policy
described by the statement:
Description Policy
1 Covers an organization against losses which might
arise as a result of debtors failure to pay their debts
2 Covers for the loss of profit due to interruption of
business activities as a result of fire
3 Covers employees who may suffer injuries while on
official duties
4 Covers partial or total physical disability caused to a
person due to injury
Date posted: April 3, 2019. Answers (1)
- Give the significance of the following principles to both the insurer and insured
i) Utmost good faith
ii) Indemnity.....
iii) Contribution
iv) Insurable interest..(Solved)
Give the significance of the following principles to both the insurer and insured
i) Utmost good faith
ii) Indemnity.....
iii) Contribution
iv) Insurable interest..
Date posted: April 3, 2019. Answers (1)
- Kazi moto insured a motor vehicle against fire with MotoMoto company by paying
Kshs.300.000. later the car was destroyed at a garage and a compensation of...(Solved)
Kazi moto insured a motor vehicle against fire with MotoMoto company by paying
Kshs.300.000. later the car was destroyed at a garage and a compensation of Kshs. 400,000
were paid. Using insurance terms, state what each of the following stand for ;
a) Kazi Moto
b) Fire
c) Kshs 300,000
d) Moto Moto Company
Date posted: April 3, 2019. Answers (1)
- State four advantages of warehousing to a retailer(Solved)
State four advantages of warehousing to a retailer
Date posted: April 3, 2019. Answers (1)
- State four functions of the purchases department of a warehouse(Solved)
State four functions of the purchases department of a warehouse.
Date posted: April 3, 2019. Answers (1)
- Outline four circumstances that would hinder a warehouse from functioning effectively(Solved)
Outline four circumstances that would hinder a warehouse from functioning effectively.
Date posted: April 3, 2019. Answers (1)
- State four functions of warehousing(Solved)
State four functions of warehousing
Date posted: April 3, 2019. Answers (1)
- The following are special delivery services provided by the post office:-post rest ante,
speed post, business reply service, express delivery. Match each description with the term
a)...(Solved)
The following are special delivery services provided by the post office:-post rest ante,
speed post, business reply service, express delivery. Match each description with the term
a) The arrangements to deliver the mail starts at the sender’s post office
b) The arrangement to deliver the mail starts at the addressees post office
c) Services offered to travelers who wish to receive correspondence while away from home
d) Service that relieves the customer of postage expenses
Date posted: April 3, 2019. Answers (1)
- Bucket ltd is an international pharmaceutical company. Under what circumstances can the firm
send its products to customers by air transport?(Solved)
Bucket ltd is an international pharmaceutical company. Under what circumstances can the firm
send its products to customers by air transport?
Date posted: April 3, 2019. Answers (1)
- Outline four differences between liners and tramps as in sea transport(Solved)
Outline four differences between liners and tramps as in sea transport
Date posted: April 3, 2019. Answers (1)
- G4S Limited Company offer courier services to provide safe transportation services.
Highlight four other services offered by G4S Limited(Solved)
G4S Limited Company offer courier services to provide safe transportation services.
Highlight four other services offered by G4S Limited
Date posted: April 3, 2019. Answers (1)
- Outline three features of tramps that distinguish them from other sea transporters(Solved)
Outline three features of tramps that distinguish them from other sea transporters
Date posted: April 3, 2019. Answers (1)
- State four circumstances that make rail transport more desirable than road(Solved)
State four circumstances that make rail transport more desirable than road
Date posted: April 3, 2019. Answers (1)