3. Complete the following statements by filling in the blanks with correct word(s).
(a) Large self-service shop located away from the town centre selling a great variety of goods is called
(b) It occurs when demand and supply curves intersect......
(c) The exchange and distribution of goods and services is termed as ......
(d) The cost of producing one more unit of output is known as......
(e) The labour that comes as a result of education and training is called ......
(f) The process of finding the value of stock held is ....
(g) Periodical valuing of all goods on hand is termed as....
(h) Public and personal services are types of.....services.
(i) The reward or payment of capital is .....
(j) The situation of increasing or decreasing quantity supplied mainly caused by the change of the price of a commodity is
4. Write short notes on the following terms:
(a) Tertiary production
(b) Wholesale trade
(e) Sales promotion
5. (a) Define the term "storage".
(b) Briefly explain five advantages of a warehouse.
6. Denis Company, bought goods for cash for Tshs. 20,000/= and sold at Tshs. 25,000/=. Calculate the company's:
(a) Profit margin
(b) Mark up price
7. Briefly explain five functions of stock administration.
(i) The main purpose of commerce is to bridge the gap between:
Demand curve normally slopes from:
(iii) The process of making goods for ones own use is termed as:
(iv) One of the main features of a supermarket is:
(v) Retailing does not include:
(vi) The resources in the form of money or property that a person or an organization has for establishing and running a business is referred to as:
(vii) Domestic trade involves:
(viii) The production process ends when goods reach the:
(ix) Barter trade is the system of exchanging goods for:
(x) What will be the effect of an increase in supply?
(i) The exchange and distribution of goods and services is referred to as:
Which of the following set represents the branches of production?
(iii) When a commodity is used for two or more purposes the demand for such a commodity is called:
A. competitive demand
B. composite demand
C. derived demand D. joint demand
(iv) The quantity of a commodity supplied usually increases when the:
(v) The following are the functions of retailers except:
(vi) Which of the following is not a function of a wholesaler?
(vii) Trade means:
(viii)Which level is reached after receiving new delivery?
(xi) Which of the following is not a function of the warehousing in preparing goods for sale?
(x) The art of making goods and services from production to be known by the whole public is called:
The main purpose of Commerce is to bridge the gap between:
(ii) Making goods for ones own consumption is termed as:
(iii) If a small change in price brings about a greater change in quantity demanded, then the price elasticity of demand is said to be:
(iv) When there is an increase in supply, the supply curve always:
(v) One of the following is a quality of the retailer:
(vi) A wholesaler obtains goods from:
(vii) A bonded warehouse is used to store:
(viii)Domestic trade involves:
(ix) The cost of production which changes as the output changes is called:
(x) Breaking the bulk means:
(i) Which of the following statements is true?
(ii) A warehouse which is used to store goods on payment is called:
(iii) The point where demand and supply curves intersect is known as:
(iv) The distinguishing marks attached to products and which cannot be used by any other producer are called:
(v) The following do not posses permanent business premises:
(vi) One of the main features of a supermarket is:
(vii) A service that takes care of risks involved in trade is:
(viii)Production ends when:
(ix) Marginal cost is defined as:
(x) The level reached after receiving new delivery is called:
(i) Which of the following is not an aspect of commerce?
(ii) The qualities of a good retailer is:
(iii) Which of the following is an example of primary production?
(iv) Demand curve is that which moves from the:
(v) Which ofthe following is notafunction of stock administration?
(vi) Tea and coffee form what type of supply?
(vii) Which of the following function is not normally done by wholesaler to retailer?
(viii)Departmental store refers to:
(ix) Industries which assemble already manufactured goods are
(x) C.O.D is an abbreviation which stands for: