ZIMSEC · Form 4 · Syllabus 4049
Commerce
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- 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.
- Insurance Insurance protects people and businesses against financial loss from risks. Many pay small premiums into a pool; the few who suffer a loss are compensated.
- Transport and warehousing Removes the barrier of distance and widens markets.
- Communication Communication passes information between businesses, customers and governments. It helps buying and selling, ordering, advertising and banking.
- Advertising and consumer protection Communicating information about goods and services to persuade people to buy.
- International trade International (foreign) trade is buying and selling goods and services between countries.