ZIMSEC · O Level · Syllabus 4049
Commerce
10 topics10 with notes
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Form 3 5 topics
- 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.
Form 4 5 topicsExam year
- 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.