PRESIDENT OFFICE REGIONAL ADMINISTRATION AND LOCAL GOVERNMENT

FORM ONE MIDTERM EXAMINATION MARCH 2023

061 COMMERCE

 Time: 2:30 Hours 

Instructions

1. This paper consists of sections A, B and C with a total of Seven (10) questions
2. Answer all questions.
3. Section A and C carry Fifteen (15) Marks each and section B carries Seventy (70) marks.
4. All answers must be written in the space provided
5. All communication devices, calculators and any unauthorized materials are not allowed in the assessment room
6. Write your Assessment Name at the top right corner of every page

 SECTION A (15 Marks) 

Answer all questions in this section.

1. For each of the following items (i)-(x), choose the correct answer and write its letter in the box provided

1. Commerce involves all activities that enable goods and services to be moved from producers to the

1. Final consumer
2. Manufacturer
3. Retailer
4. Wholesaler

2. Which of the following statements is true?

1. Economics is part of commerce
2. Commerce is part of economics
3. Commerce includes production
4. Commerce is the study of exchange only

3. Making goods for one’s own use is termed as

1. Self service
2. Direct production
3. Self-employment
4. Direct service

4. Commercial activities are generally divided into two main parts which are

1. Commerce and business
2. Transport and communication
3. Home and foreign trade
4. Trade and aids to trade

5. Create awareness of the availability of goods and services in the market

1. Transport
2. Advertising
3. Communication
4. Insurance

6. While commerce is concerned with bringing goods nearer to the consumer, economics is concerned with

1. Scarce and plenty goods
2. Auxiliary services
3. Marketing of goods
4. The satisfaction of human wants with scarce resources

7. Which of the following is a drawback of the barter system

1. A measure of value
2. Poor communication
3. Indivisibility of some commodities
4. ignorance

8. The import of foreign produced goods into a country to be re-exported are called

1. Hypothecation
2. Entrepot trade
3. Invisible trade
4. Entre port trade

9. Which of the following implies home trade

1. Buying in Dar es salaam and selling to Mombasa
2. Buying in Nairobi and selling to Arusha
3. Buying in niger and selling to Nigeria
4. Buying in Mara and selling to Dodoma

10. The purpose of production is to

1. Link producer and consumer
2. Create utility
3. Produce goods and services
4. Satisfy human needs and wants

2.  For each of the following items, choose the correct answer and write its letter in the box provided

Answer box

SECTION B (70 Marks)

Answer all questions in this section.

3. Define the following terms

1. Commerce

2. business

3. Economics

4. Advertising

5. Utility

4. Many factors have facilitated the growth of trade and commerce at Igunga town. Basing on this statement. Briefly Mention five (5) factors contributed in the development of trade and commerce in Tanzania.

5. (a) No production no life no business. what does the term “Production” means

(b) Mention four types of utilities

6. Differentiate the following concepts as applied in commerce

1. Goods from service

2. Commerce from Economics

3. Direct production from indirect production

4. Durable goods from perishable goods

7. Mr Marcly is a mathematics teacher at Mwanzugi Secondary school, he heard the subject called commerce but he said that the commerce subject is not important to our country, as an expert of commerce subject analyze to him five importance of studying commerce in our country

8. Mention five features of land as a factor of production

9. Draw a commerce flow chart and label it clearly

SECTION C (15 Marks)

10. There those people who do not buy or sell goods but offer services which facilitate trade. Without such services there would be hindrances in the exchange of goods. With the help of such services there is a continuous flow of exchange of goods and service which helps in the distribution of goods from producer to final consumers. Basing on this statement explain six (6) aids to trade in commerce.

 THE PRESIDENT’S OFFICE MINISTRY OF EDUCATION, REGIONAL ADMINISTRATION AND LOCAL GOVERNMENT

COMMERCE MID TERM EXAMINATION

FORM ONE-MARCH/APRIL-2022

TIME: 2:30 HRS  NAME:…………………………………………

INSTRUCTIONS

1.  This paper consists of sections A, B, and C,

2.  Answer ALL questions in each section

3.  Read instructions on each question carefully

SECTION A: Multiple choices (20 marks)

1. For each of the following items (1-x) write the letter of the most correct answer in space provided. (i) Trade can be defined as

1. Exchange of services for goods
2. Business expansion in order to earn maximum profit
3. Buying and selling of goods and services
4. Exchange of goods for goods

(ii) Barter trade means;

1. Buying in large quantities
2. Better trading
3. Exchanging goods for goods
4. Exchange of goods for services

(iii) One of the following is not factor production.

1. Labour 
2. Land 
3. Capital 
4. Man

(iv) Examples of extractive industry

1. Farming, mining and fishing
2. Engineering, oil-refiming and steel production
3. Builders of bridges, houses and chairs
4. None of the above

(v) Other names for foreign trade is

1. Home trade 
2. Retail trade
3. International trade
4. Aids to trade

(vi) Perishable goods are like

1. Bananas, oranges, and vegetables 
2. Hones, motor van and industries 
3. Cups, cupboards and chairs
4. Hammers, hoes and tractors

(vii) International trade grouped in 

1. Insurance and import trade 
2. Export and transport trade
3. Import and export trade
4. Warehouse and export trade

(viii) The purpose of production process is: 

1. to satisfy consumer needs
2. to satisfy producer needs
3. to satisfy business men needs
4. None of the above

(ix) Aids to trade means;

1. All activities which assists to cure and prevent disease 
2. All activities which assist diseases to grow in the body 
3. All actives which assist international trade
4. All activities which assists the trade

(x) Labour as a factor of production is provided by ;

1. The government
2. Land
3. Gift of nature 
4. Human being

(1 marks @ total 10 marks ) 

2. Match the items in list A with the response from list B by writing the letter of the corresponding response beside the item number in a space provided.

SECTION B: (40 MARKS)

Filling in blanks answer all questions

3. (a) Price paid for the use of land as a factor of production is ------------------------

(b) Mental or physical efforts of human beings directed to production process is known as --------------------

(c) A trade carried on between different countries ----------------------------------------

(d) A person who organize and start a business is----------------------------------------

(e) The restoring of a businessman to its position of original after he/she suffer losses ----------------------- 

(f) Informing the customers and public in large about business activities is known as ------------------------- 

(g) -------------------------------------------- is the ability of goods and services to satisfy human wants.

(h) An example of producer goods ----------------------- ------------------- 

(i) The one of the basic human wants is -----------------------------------

(j) The reward for entrepreneur is …………………………………………. 

(1mark @ total 10 marks)

4. Define the following terms; 

(a) Capital goods

(b) Non-durable consumer goods

(c) Fixed cost

(d) Aids to trade 

(e) Commerce

(2 marks @ total 10 marks) 

5. Write T for the true sentences and F for False sentences in front of a sentence

(i) Commerce involves, both trade and Aids to trade ----------------------------- 

(ii) Warehousing is grouped together with international trade ----------------- 

(iii) Barter trade is the old method of exchanging goods for goods -------------- 

(iv) Land is a gift of nature -----------------------------

(v) Import and export are parts of international trade -------------------------

(vi) Commerce is defined also as a study of trade and its Aids to trade ----------------- 

(vii) Variable costs decrease as output increases--------------------

(viii) Direct production is the making of goods for self-consumption -----------

(ix) Transportation is the physical movement of people and goods from one place to another----------- 

(x) Communication is an art of passing information from one person to another---------------

(1 marks @ total 10 marks)

SECTION C: (40 marks) Answer ALL questions 

6. Outline five importance of studying commerce subject in your life (10 marks) 

7. In short explain six (6)dis advantages of batter trade (18 marks) 

8. Draw a well lebelled diagram showing classification of production (22 marks)

THE MINISTRY OF EDUCATION AND LOCAL GOVERNMENT

FORM TWO MID TERM EXAMINATION- MARCH 2020

061        COMMERCE

Duration: 2:30 Hours

INSTRUCTIONS.

1. This paper consists of sections A, B and C with a total of seven (7) questions.
2. Answer all questions.
3. All writing must be in blue or black ink except drawing which must be in pencil.
4. Calculators, cellular phones and any unauthorized materials are not allowed in the examination room.
5. Write your Examination Number at the top right corner of every page.

SECTION A (30 MARKS)

1.                For each of the following items (i) –(x) choose the correct answer among the given alternatives and write its letter in the box provided.

(i)                 Commerce is mainly dealing with 

(a)                Distribution of goods and services

(b)               Production and consumption of goods and services

(c)                Buying and selling of goods and services

(d)               Exchange and distribution of goods and services  

(ii)               Which of the following is not included in the commerce flow chart 

(a)                Insurance  (b)Ware housing   (c)Production (d)Transportation

(iii)            The exchange of goods and services is referred to as  

(a)                Aids to trade (b) Trade        (c)Barter trade  (d)Commerce    

(iv)             Which of the following statements represents the correct arrangement of the basic factors of production

(a)                Land ,labour, capital and Entrepreneurship

(b)               Labour, capital, entrepreneurship and labor

(c)                Labour, land, capital and entrepreneurship

(d)               Labour, capital, land and entrepreneurship   

(a)                     

(v)               Which of the following is not a nature of commerce?

1.              Production
2.               Economic activities.
3.               Exchange of goods and services
4.              Creation of utility.

 (vi) Which of the following is an indirect service? 

1.              Cobbles and Client
2.               Doctor and patient
3.               Advocate and client
4.              Public rallies

(vii) Ability of economic resource to satisfy human need is called?

1.                 Variability
2.                  Inseparability
3.                  Utility.
4.                 Transferability.

 (viii) A foregone satisfaction as a result of making a choice is called?.

1.              Scarcity.
2.               Utility
3.               Opportunity cost
4.              Choice.

 (ix) Activities that facilitate trade are called?

1.           Utility
2.            Trade supporter
3.            Elements of trade
4.           Aids of trade.

(x) Which of the following is not a drawback of barter trade?

1.              Double coincidence
2.               Lack of measure of value.
3.               Indivisibility of commodity.
4.              Lack of store of value.

2. Match the items from list A with those in list B.

2.                (a) Write true if the statements is correct and false if the statement is not correct  

     on the space provided.

(i)                 Wants refers to the quantity of commodities that consumers are willing and able to have at a time ……………..

(ii)               Trade is basically categorized as home trade and foreign trade …………

(iii)            Export trade deals with only selling goods to other countries …………….

(iv)             Commerce is a branch of economics …………….

(v)               The final user of a commodity is known as a retailer ………………

(vi)             The exchange of goods to goods is referred to as barter trade ………….

(vii)           Communication is an aid to trade that gives the public awareness of availability of given commodities               on the market ……………..…..

(viii)        Rent is the payment of land as a factor of production ……………….

(ix)             Perishable goods are those goods that stay for a long period of time without getting exhausted ……………………

(x)               Extractive industries are also referred as primary industries …………

SECTION B 30 Marks

4.         Complete the following sentences by filling the blanks with correct words.

(i)                     The study which deals with allocation of scarce resources to satisfy needs and wants …………………..

(ii)                    Human needs which are not necessary for human survival are called………….

(iii)                   The ability of goods and services to satisfy human wants is refered to ………

(iv)                   ……………. Is the creation of utility 

(v)                    Any Physical or mental efforts given for a certain work to be done…………

5. Write short notes on the following commercial terms 

(i)                 Direct production ……………………………………………………………………….

…………………………………………………………………………………………….

(ii)               Retail trade ……………………………………………………………………………….

……………………………………………………………………………………………….

(iii)            Constructive industries ………………………………………………………………..

……………………………………………………………………………………………….

(iv)             Goods ……………………………………………………………………………………..

……………………………………………………………………………………………….

(v)               Commerce …………………………………………………………………………………

……………………………………………………………………………………………….

 6.  Define any five (5) auxiliaries to trade that you may know

(i)                     ……………………………………………………………………………………………….……………………………………………………………………………………………………

(ii)                    ……………………………………………………………………………………………….…………………………………………………………………………………………………….

(iii)                   ……………………………………………………………………………………………….…

…………………………………………………………………………………………………

(iv)                   …………………………………………………………………………………………………

……………………………………………………………………………………………….…

………………………………………………………………………………………………………………………………………………………………………………………………………..

7. Write short notes on the following terms.

a)                  Scarcity

b)                  Choice

c)                  Opportunity cost

d)                  Form utility

e)                  Time utility

8. (a) Describe the Aids to trade.

    (b) Outline importance of Commerce in our daily life.