Module 12: Business Studies
Demand, supply, and market structures.
Use this workbook to practice core KCSE communication skills and record evidence of progress.
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SECTION: BUSINESS STUDIES
MODULE: 12
Part A: Units
1. Demand and supply
a. Meaning of demand
b. Law of demand
c. Meaning of supply
d. Law of supply
e. Equilibrium price
2. Market structures
a. Perfect competition
b. Monopoly
c. Oligopoly
d. Features of each market
Part B: Project
Analyze demand, supply, and market structures using local examples.
Project Title: Market Analysis Case
Objective: Apply demand and supply concepts to a local product or service.
Project Instructions:
- 1. Choose a local product (e.g., maize flour, phone airtime).
- 2. Describe factors affecting demand and supply.
- 3. Explain how equilibrium price is reached in simple terms.
- 4. Identify the market structure that fits the product and list features.
- 5. Consult your coach where necessary.
Evidence to Submit:
- • Demand and supply notes.
- • Equilibrium explanation.
- • Market structure summary.
Submission
Part C: Training Others
Teach a peer about demand, supply, and markets.
Guidance:
- • Explain the laws of demand and supply.
- • Use a simple example to describe equilibrium price.
- • Compare monopoly with perfect competition.
Reflection:
- • What did the learner understand well?
- • What needed more explanation?
- • What support do you need from your coach?
Submission
Part D: Assessment
Competency Levels:
1 = Expectations not met
2 = Partially met
3 = Satisfactorily met
4 = Excellently met
Self-assessment:
- • Demand and supply concepts:
- • Equilibrium price:
- • Market structures:
Coach assessment:
- • Demand and supply concepts:
- • Equilibrium price:
- • Market structures:
Submission
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Keep your learning rhythm steady and record your reflections as you progress.