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 isView Ans
4. Write short notes on the following terms:
(a) Tertiary production
(b) Wholesale trade
(e) Sales promotionView Ans
5. (a) Define the term "storage".View Ans
(b) Briefly explain five advantages of a warehouse.View Ans
6. Denis Company, bought goods for cash for Tshs. 20,000/= and sold at Tshs. 25,000/=. Calculate the company's:
(a) Profit marginView Ans
(b) Mark up priceView Ans
7. Briefly explain five functions of stock administration.