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State four advantages of competition for consumers and five reasons for the popularity of small-scale businesses in Kenya.
Business/Management
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State four advantages that consumers get from businesses/competition:
- Lower prices for goods and services due to competition among businesses.
- Wider variety of goods and services to choose from.
- Improved quality of products and services as businesses strive to attract customers.
- Better customer service and after-sales support.
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Highlight five reasons why small-scale businesses are popular in Kenya:
- They are easy to start, often requiring minimal capital and formal procedures.
- They are easy to manage, allowing for direct supervision by the owner.
- The owner is able to maintain direct control over all aspects of the business.
- They require relatively low capital investment to set up.
- They create significant employment opportunities for many people, especially in urban and rural areas.
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