ZIMSEC · Form 3 · Syllabus 4049
Commerce
5 topics5 with notes
0%
Study this subject topic by topic
Progress is saved on this device. Join free to keep it everywhere.
- Production and the role of commerce Production is creating goods and services to satisfy human wants.
- Retail and wholesale trade Manufacturer → wholesaler → retailer → consumer. Sometimes the wholesaler or retailer is cut out.
- Home trade documents and terms of payment Order of documents in a transaction Letter of enquiry (buyer asks about goods, prices and terms).Quotation or price…
- Forms of business ownership State-owned enterprises (parastatals) such as ZESA, NRZ and ZINWA provide essential services; local authorities run water, roads and markets.
- Banking and money Functions: medium of exchange, measure of value, store of value, standard for deferred payment. Qualities: acceptability, durability, portability, divisibility, scarcity.