1.1. Trade and commerce
A subsection of Commerce, 7100, through 1. Commerce and production
Listing 10 of 55 questions
Lee owns a medium-sized speciality store in a large town, selling electrical supplies. He is considering accepting credit and debit cards as methods of payment from both individual and trade customers. He offers hire purchase for larger items, such as cookers. What is meant by speciality store? State one difference between a credit card and a debit card. Describe two disadvantages to individual customers of buying on hire purchase. Lee has always given 30 days credit to his trade customers but has had some bad debts. Define the following terms: • trade credit • trade discount What do you think would be the best method of communication for Lee to use with the customers who owe him money? Discuss whether or not Lee should continue to allow trade credit. Give reasons for your answer.
7100_w17_qp_21
THEORY
2017
Paper 2, Variant 1
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‘Consumers have many wants and needs which are satisfied by both home and international trade.’ Explain, with examples, the meaning of this statement. International trade has become increasingly important to many countries. Explain how each of the following has assisted international trade: communication warehousing. ‘As the result of being in a global market, countries are becoming increasingly interdependent.’ Is this true? Explain your answer.
7100_s05_qp_2
THEORY
2005
Paper 2, Variant 0
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Questions Discovered
55