THE PRESIDENT’S OFFICE REGIONAL ADMINISTRATION AND LOCAL GOVERNMENT 

BUSINESS STUDIES FORM ONE

MIDTERM EXAMINATION AUGUST 2025

TIME: 2:30 Hrs

INSTRUCTIONS 

1. This paper consists of Section A, B and C with a total of ten (10) questions
2. Answer Questions from all questions.
3. Section A and C carries fifteen (15) marks each, while section B carries seventy (70) marks
4. All answers should be written in the space provided on this questions paper.

SECTION A (15 Marks)

1. For each of the items (i) -(x), choose the correct answer from among the given alternatives and write its letter in the box provided (i) The concept of opportunity cost applies because:

1. Resources are unlimited
2. People can have everything they want
3. Choosing one option means giving up another
4. Goods and services are free

(ii) Jackson has TZS 50,000. He can either buy a pair of shoes for TZS 50,000 or two Tshirts for TZS 25,000 each. He decides to buy the shoes. What is Jackson’s opportunity cost?

1. TZS 50,000 spent on shoes
2. The two T-shirts he did not buy
3. The money he saved 
4. The benefit of wearing shoes

(iii)The government provides free vaccinations to children to protect them from diseases. Which type of goods is being provided?

1. Merit good
2. Demerit good
3. Free good 
4. Economic good

(iv) Which among of the following businesses is not type of personalities?

1. Retreat
2. Ritualist
3. Reformist 
4. Honesty.

(v) Salim opened a shop to make profit and serve his community. What type of activity is Salim engaged in?

1. Sports
2. Business
3. Farming 
4. Volunteering.

(vi) The following are the characteristics of human wants EXCEPT?

1. Unlimited.
2. scarcity.
3. competitive.
4.  complementary.

(vii) Process of moving goods services from where they are produced to where they are needed for being utilized is called?

1. Consumption
2. Production
3. Exchange
4.  Distribution.

(viii) Goods with high social benefits to consumers such as education, health are called?

1. Producer goods
2. Demerit goods
3. Consumer goods 
4. Merit goods

(ix) Which of the following IS NOT considered as a business?

1. Any activity aiming at generating profit.
2. The process of recording business transaction.
3. An enterprise owned by a twenty people. 
4. An organisation which engages in buying and selling of goods.

(x) Which informal means do entrepreneurs use to gather information for further improvement in their business?

1. Marketing
2. Primary research
3. Survey
4. Informal debates.

2. Match the items from List A with those in those in List B by writing the letter of a correct option in List B that corresponds to an item in List A

SECTION B (70 Marks)

Answer all questions from this section

3. Briefly explain the following concepts in relation to business studies.

(a) Intrapreneur. _____________________________________________________________________ __________________________________________________________________

(b) Production. _____________________________________________________________________ _____________________________________________________________________

(c) Business studies _____________________________________________________________________ _____________________________________________________________________

(d) Entrepreneurship _____________________________________________________________________ _____________________________________________________________________

(e) Entrepreneurial skills. _____________________________________________________________________ _____________________________________________________________________

4. Business studies is a combination of various fields of study. Justify the statement by elaborating any five (05) fields of business studies.

1.  _____________________________________________________________________
2.  _____________________________________________________________________
3. _____________________________________________________________________
4.  _____________________________________________________________________
5.  _____________________________________________________________________

5. (a) Describe two classes of human wants

(i) _______________________________________________________________

(ii) _______________________________________________________________

(b) Explain three types of entrepreneurships

1.  ________________________________________________________________
2. ________________________________________________________________
3. ________________________________________________________________
4. ________________________________________________________________

6. Briefly explain four main input/resources used in production.

1. ________________________________________________________________
2. ________________________________________________________________
3. ________________________________________________________________
4. ________________________________________________________________

7. Upon arriving home from school, you met your neighbors arguing about the value of entrepreneurship. They believed that, entrepreneurship lacks any value. Inform them about five (05) the importance of entrepreneurship.

(i) _____________________________________________________________________ _______________________________________

(ii) _____________________________________________________________________ _______________________________________

(iii)_____________________________________________________________________ _______________________________________

(iv) _____________________________________________________________________ _______________________________________

 (v) _____________________________________________________________________ _______________________________________

8. Successful entrepreneur is always confident and optimistic. Describe five (05) attributes of a successful entrepreneur in Tanzania.

1.  _____________________________________________________________________
2. _____________________________________________________________________
3. _____________________________________________________________________
4. _____________________________________________________________________
5. _____________________________________________________________________

9. In studying Business Studies there are differences things that students learn. As a student come up with five (05) importance that you learn from studying Business Studies

(i) _____________________________________________________________________ ___________________________________

(ii) _____________________________________________________________________ ___________________________________

(iii)_____________________________________________________________________  ___________________________________

(iv) _____________________________________________________________________  ___________________________________

(v) _____________________________________________________________________ ___________________________________

SECTION C (15 Marks)

10. During the inter-school competition, you met form one students from Pasiansi Secondary School arguing on whether entrepreneurs are made or born. Based on the five (05) theories of entrepreneurship you learnt, help them understand about entrepreneurship.