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1

What are basic human needs?

1. Commerce and production  →  1.1.2. Aids to trade and logistics

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2

The table shows the percentage of workers employed in different types of occupation in the years 1995 and 2005. % % agriculture commercial services construction direct services manufacturing What is the increase or decrease in the percentage of workers employed in secondary industries between 1995 and 2005?

1. Commerce and production  →  1.2. Production

3. Globalisation of trade  →  3.1.3. Balance of Trade and Balance of Payments

5. Aids to trade that support commerce  →  5.4.2. Commercial calculations

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3

Which statement is true of specialisation?

1. Commerce and production  →  1.2. Production

2. Commercial operations  →  2.3. Retailing

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4

Why are there more new businesses in the retail trade than in manufacturing?

2. Commercial operations  →  2.3. Retailing

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5

What is an example of after-sales service?

2. Commercial operations  →  2.4. Wholesaling

5. Aids to trade that support commerce  →  5.1.4. Sales promotion

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6

What is an advantage to the retailer of selling using the Internet?

2. Commercial operations  →  2.3. Retailing

2. Commercial operations  →  2.3.4. Effects of ecommerce on traditional commerce

5. Aids to trade that support commerce  →  5.1.2. Methods of traditional and digital advertising media

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7

What is the chain of distribution for manufactured goods?

2. Commercial operations  →  2.4. Wholesaling

3. Globalisation of trade  →  3.2. Global supply chain management

1. Commerce and production  →  1.2.4. Intermediaries in a supply chain

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8

The decline of the independent wholesaler has been caused largely by the growth of A automatic vending machines. B cash and carry warehouses. C large scale retailers. D voluntary chains.

2. Commercial operations  →  2.4. Wholesaling

2. Commercial operations  →  2.3. Retailing

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9

Which service is provided by wholesalers to retailers?

2. Commercial operations  →  2.4. Wholesaling

2. Commercial operations  →  2.3. Retailing

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10

Which statement applies to a credit note?

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11

Mr Mututu, a retailer, buys 100 dresses at $80 each and sells all of them for $100 each. What is his percentage mark-up?

2. Commercial operations  →  2.3. Retailing

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12

The diagram shows a bank giro credit slip. 20-42-17 Date Bank giro credit Orion Bank PLC Paid in by Notes $50 $20 $10 $5 $1 Coins Total cash Cheques, etc $ Date Cashier’s stamp Sort Code: A/C Number: Transaction Code: Cashier’s stamp $ Fee Cheques For what purpose is the bank giro credit slip used?

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13

Which statement applies to a direct debit but not to a standing order?

5. Aids to trade that support commerce  →  5.2. Banking

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14

Why has Internet banking increased rapidly during the last three years?

5. Aids to trade that support commerce  →  5.2.2. Digital technology in banking

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15

Two groups of people are linked by telephone. What is this meeting called?

2. Commercial operations  →  2.6.2. Methods of communication

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16

Mrs Virji employs ten staff in her business and she wishes to discuss with them a new bonus payment scheme. What method of communication is she most likely to use?

2. Commercial operations  →  2.6.2. Methods of communication

2. Commercial operations  →  2.6.3. Factors that affect communication

2. Commercial operations  →  2.6. Communication

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17

Which postal service would give compensation for a gold necklace lost in the post?

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18

Which type of advertising does this statement represent?

5. Aids to trade that support commerce  →  5.1. Advertising

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19

Which advertising medium is most appropriate for a small manufacturer, on a limited budget, who wants to sell her products locally?

5. Aids to trade that support commerce  →  5.1.2. Methods of traditional and digital advertising media

5. Aids to trade that support commerce  →  5.1. Advertising

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20

How does point-of-sale advertising help a trader to increase sales?

5. Aids to trade that support commerce  →  5.1. Advertising

5. Aids to trade that support commerce  →  5.1.4. Sales promotion

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21

Why might a trader prefer to use rail rather than road for transporting goods in bulk?

4. Logistics in commerce  →  4.1. Transport

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22

What name is given to a ship where vehicles may be driven on and driven off?

4. Logistics in commerce  →  4.1. Transport

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23

The transport of goods has recently been made easier by A express road routes in many countries. B increased checks by customs officials. C more detailed inspections of railway networks. D the reduction of facilities at many airports.

4. Logistics in commerce  →  4.1. Transport

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24

Which document enables the importer to claim possession of goods on their arrival?

2. Commercial operations  →  2.5.2. Documents of international trade

1. Commerce and production  →  1.1.2. Aids to trade and logistics

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25

What is a function of warehousing?

4. Logistics in commerce  →  4.2. Warehousing

4. Logistics in commerce  →  4.1. Transport

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26

Why are selling costs lower in a cash and carry warehouse than in a traditional warehouse?

4. Logistics in commerce  →  4.2. Warehousing

2. Commercial operations  →  2.4. Wholesaling

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27

Mr Gabriel owns a food processing company. Why should he insure his factory?

5. Aids to trade that support commerce  →  5.3.3. How enterprises make use of insurance

5. Aids to trade that support commerce  →  5.3. Insurance

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28

Mrs Fong insures her house, worth $500 000, for $300 000 against fire. A week after taking out the policy, property worth $300 000 was totally destroyed by fire. Which amount should Mrs Fong receive in compensation?

5. Aids to trade that support commerce  →  5.3.3. How enterprises make use of insurance

5. Aids to trade that support commerce  →  5.3.2. Types of insurance risk

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29

In which document is this statement likely to be written?

5. Aids to trade that support commerce  →  5.3.3. How enterprises make use of insurance

5. Aids to trade that support commerce  →  5.3.2. Types of insurance risk

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30

The diagram shows some of the factors an insurance company will take into account when deciding the amount of premium to charge a retailer to cover her shop against burglary. the amount of premium total number of shops insured against burglary X number of claims for burglary made by the retailer so far value of the shop and the retailer's stock What does X represent?

5. Aids to trade that support commerce  →  5.3.3. How enterprises make use of insurance

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31

How can a country increase its exports?

3. Globalisation of trade  →  3.1.4. Free trade, trading blocs, trade restrictions and sources of support for exporters

3. Globalisation of trade  →  3.1.2. Challenges of international trade to exporters and importers

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32

The table shows the foreign trade figures of country X for one year. $ million goods bought from other countries goods sold to other countries payment for use of foreign transport money received from foreigners who use country X’s transport money spent by citizens of country X on holidays in other countries What is the value of country X’s total imports?

3. Globalisation of trade  →  3.1.3. Balance of Trade and Balance of Payments

1. Commerce and production  →  1.2.6. Costs involved in trade, commerce and production

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33

Why might a manufacturer prefer to sell goods in the home country rather than abroad?

3. Globalisation of trade  →  3.1.2. Challenges of international trade to exporters and importers

1. Commerce and production  →  1.2.2. In-house production and outsourced production

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34

What factors are likely to be important when a supermarket chain is deciding on the location of a large retail branch?

2. Commercial operations  →  2.1.5. Physical and ecommerce location factors

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35

Which person is most likely to be employed in the public sector of a country?

2. Commercial operations  →  2.1.2. Types of private and public sector enterprises

2. Commercial operations  →  2.1. Commercial enterprises

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36

Amex Corporation is a large manufacturing company with two modern factories. Both its cash flow and demand for its goods are very low, so immediate finance is needed. Which source of finance would be the most suitable for the Amex Corporation?

5. Aids to trade that support commerce  →  5.4. Sources of finance and commercial performance

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37

A trader has the following results: Sales $800 000 Cost of sales $650 000 Expenses $90 000 What is the net profit?

5. Aids to trade that support commerce  →  5.4.2. Commercial calculations

5. Aids to trade that support commerce  →  5.4. Sources of finance and commercial performance

5. Aids to trade that support commerce  →  5.4.3. Improving commercial performance

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38

What is meant by credit?

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39

What is the purpose of consumer protection?

6. Sustainability and ethics  →  6.3. Consumer protection

5. Aids to trade that support commerce  →  5.3. Insurance

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40

A government wants all farmers to be instructed about the use of a dangerous weedkiller. What will the manufacturers be required to do by law?

5. Aids to trade that support commerce  →  5.3.3. How enterprises make use of insurance

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