TUTORIAL QUESTION 1. Explain what are business and the primary goal of business. 2. Differentiate between profit organizations and non-profit organizations.

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TUTORIAL QUESTION 1. Explain what are business and the primary goal of business. 2. Differentiate between profit organizations and non-profit organizations and give example of each organization. 3. Briefly explain THREE(3) groups of people who involved in business activities. FHF 1-32

TUTORIAL QUESTION 4. List and briefly explain THREE (3) activities of business. 5. List FIVE (5) reasons why need to study business. 6. List FOUR (4) factors of production in business and give example each of them. 7. What are economic systems? Briefly explain FOUR (4) basic economic systems found in the world today. FHF 1-32

TUTORIAL QUESTION 8. Differentiate between pure capitalism and modified capitalism. 9. Differentiate between supply and demand. 10. List and briefly explain FOUR (4) types of competitive environments in business. 11. Differentiate between economic expansion and economic contraction. FHF 1-32