Cambridge · Form 3 · Syllabus 7100
Commerce
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- Production, specialisation and the chain of distribution Satisfying human wants through primary, secondary and tertiary production; direct and indirect services; commerce as trade plus aids to trade.
- Retail and wholesale trade Functions of the retailer (selling in small quantities, stocking variety, convenience, information, credit, after-sales service).
- Consumer protection and documents of trade Reasons (complex products, misleading advertising, unsafe goods, weights and measures); methods: legislation (fair trading, sale of goods, trade descriptions, food safety), government agencies, consumer associations, trade associations' codes of practice, the media.
- Finance, banking and insurance Short-term (overdrafts, trade credit, factoring), medium-term (bank loans, hire purchase, leasing) and long-term (shares, debentures, mortgages, retained profits).
- Communication, transport and warehousing Methods: postal services, courier services, telephone and mobile phones, email, the internet, video conferencing, social media. Choosing a method: speed, cost, confidentiality, record, distance. Effects of technology on commerce (e-commerce, mobile money).