---

---

1

Producers need to satisfy human needs and wants. Which example is a human need?

4. Logistics in commerce  →  4.1. Transport

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

Open

2

The table shows numbers of workers (000s) employed in industries in a country. (000s) agriculture 1 000 engineering 4 000 mining steelmaking 3 000 8 600 What is the total number of workers employed in the secondary sector?

1. Commerce and production  →  1.2. Production

2. Commercial operations  →  2.1.3. Multinational companies (MNCs) in the global economy

Open

3

The diagram shows a number of ways in which specialisation occurs. specialisation X region industry workers What is X?

1. Commerce and production  →  1.2. Production

Open

4

A producer of steel bars is dependent on commerce because A employees need good working conditions. B money from sales is kept in banks. C the business is a limited liability company. D the products need to be fit for purpose.

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

1. Commerce and production  →  1.1.4. The relationship between production, trade and commerce

Open

5

What is a function of a retailer?

2. Commercial operations  →  2.4. Wholesaling

2. Commercial operations  →  2.3. Retailing

Open

6

A multiple chain store selling clothing decides to expand from a regional chain to a national chain. Which advantage will this expansion achieve?

2. Commercial operations  →  2.3. Retailing

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

Open

7

The diagram shows a bar code. Which statement about bar codes is correct?

Open

8

A retailer engaged in ecommerce may continue to operate a number of physical stores so that it can offer A a delivery system. B an online customer review service. C face-to-face customer service. D payment by credit card.

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

2. Commercial operations  →  2.3. Retailing

Open

9

The cash price for a motorcycle is $1500. The credit price is 5% deposit of cash price plus 10 instalments of $170. How much does the credit purchase cost?

Open

10

Which statement describes the work of del credere agents?

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

Open

11

The sequence of documents used for a business transaction between two firms is shown...

2. Commercial operations  →  2.5. Trading documents

2. Commercial operations  →  2.5.2. Documents of international trade

2. Commercial operations  →  2.5.3. Digital use of trading documents

Open

12

What is not a characteristic of a credit note?

2. Commercial operations  →  2.5. Trading documents

Open

13

A wholesaler buys televisions from a manufacturer for $120 each. The wholesaler sells them to a retailer for $150 each. What is the wholesaler’s percentage mark-up?

2. Commercial operations  →  2.4. Wholesaling

2. Commercial operations  →  2.3. Retailing

Open

14

A country has a Balance of Payments surplus on its current account. What does this mean?

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

Open

15

A company exporting goods may be faced with protectionism. What does this mean?

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

Open

16

Which trade difficulty is more likely to be faced by an importer of tractors than an importer of oranges?

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

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

Open

17

BOGOF is a sales promotion that refers to A buying high quality goods. B getting one product free. C offering low standard goods. D offering two free products.

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

Open

18

Why is communication important in the global market?

2. Commercial operations  →  2.6.3. Factors that affect communication

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

2. Commercial operations  →  2.6.2. Methods of communication

Open

19

The diagram shows examples of envelopes used in the postal service. Which envelope would be collected by a business from its local post office?

Open

20

What is an advantage of using a mobile phone rather than a landline?

Open

21

Which service is provided by a port authority?

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

2. Commercial operations  →  2.4. Wholesaling

Open

22

Which development in transportation has had the most impact on reducing costs of moving goods?

4. Logistics in commerce  →  4.1. Transport

Open

23

What is a function of warehousing?

4. Logistics in commerce  →  4.2. Warehousing

2. Commercial operations  →  2.4. Wholesaling

Open

24

The picture shows the flow of goods from the manufacturer to the retailer. warehouse manufacturer retailer Which statement describes the role of the warehouse in the picture?

2. Commercial operations  →  2.4. Wholesaling

4. Logistics in commerce  →  4.2. Warehousing

Open

25

A bonded warehouse is a place where A customs officials store confiscated and smuggled goods. B dutiable goods are stored until duty has been paid on them. C goods are manufactured ready for sale. D merchants store all their goods awaiting export.

4. Logistics in commerce  →  4.2. Warehousing

4. Logistics in commerce  →  4.1. Transport

Open

26

Which insurance policy would cover a supermarket against the risk of a cashier stealing the store’s money?

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

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

Open

27

The owner of a factory holding stock worth $200 000 insures the stock for $150 000. A fire causes $40 000 of damage. How much would the factory owner receive?

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

Open

28

A bank customer with a current account will A be able to make withdrawals on demand. B be certain of being granted an overdraft if required. C receive a credit card when the account is opened. D receive a safe deposit box.

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

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

Open

29

Simeon, a retailer, wishes to locate his business in a shopping centre. Why would Simeon choose the shopping centre?

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

2. Commercial operations  →  2.3. Retailing

Open

30

The following headlines appeared in an African newspaper. Water privatisation resulted in angry demonstrations EN plc takes over water supply – it promises big investment What was the most likely reason for the demonstrations against privatisation of the water supply?

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

6. Sustainability and ethics  →  6.3. Consumer protection

Open

31

In the absence of a deed of partnership, how would the losses be shared out if a partnership ceased to trade?

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

Open

32

What is a feature of a multinational company?

2. Commercial operations  →  2.1.3. Multinational companies (MNCs) in the global economy

Open

33

Which form of capital is often secured to company assets?

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

Open

34

Mr Singh is a small-scale retailer. His cost of goods sold was $90 000. His opening inventory was $10 000 and closing inventory was $8000. What is his rate of inventory turnover?

2. Commercial operations  →  2.3. Retailing

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

Open

35

What is an example of a fixed asset for a car sale and repair business?

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

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

2. Commercial operations  →  2.4. Wholesaling

Open

36

How could the rate of inventory turnover of a wholesale business be improved?

2. Commercial operations  →  2.4. Wholesaling

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

Open

37

The acronym PEST is helpful to analyse the external environment. What factors does PEST stand for?

3. Globalisation of trade  →  3.2.2. Global supply chain risks

Open

38

What will a retailer provide so that a shopper can link quickly to its website?

2. Commercial operations  →  2.3. Retailing

2. Commercial operations  →  2.5.3. Digital use of trading documents

Open

39

What is the best method of recycling glass?

Open

40

Mrs Moyo buys a new toaster from a shop. When she arrives home, she discovers that the toaster is faulty. According to consumer law, what should she do?

6. Sustainability and ethics  →  6.3. Consumer protection

Open