THE PRESIDENT’S OFFICE
REGIONAL ADMINISTRATION AND LOCAL GOVERNMENT
FORM ONE ANNUAL EXAMINATION
COMMERCE
TIME: 3 HOURS NOVEMBER 2024
Instructions
1. This paper consists of Sections A, B and C with a total of ten (10) questions.
2. Answer all questions in the spaces provided.
3. All answers must be in blue or black ink except diagrams which must be in pencil.
4. All communication devices and calculators are not allowed in the assessment room.
5. Write your Assessment Number on the top right corner of every page.
SECTION A : (30 Marks)
Answer all questions in this section
1. For each of the following questions (i - x) choose the correct answer and write the letter of the correct answer in the space provided:
(i) Mr. Patrick is farming maize for selling and for his family use. What is the name of the
activity conducted by Mr. Patrick?
(A) Direct services
(B) Direct production
(C) Production
(D) Indirect production
(ii) A sales man wants to identify the fast and the slow moving goods in his shop. Which
calculation will help him?
(A) Re order level
(B) Rate of stock turn
(C) Average stock
(D) Margin percent
(iii) In your school every teacher teaches a subject that he/she is best at. What best describe that process?
(A) Division of labour
(B) Specialization
(C) Self-employment
(D) Efficiency of labour
(iv) From the following list who is a final user of goods and services?
(a) Distributor
(b) Retailer
(c) Manufacturer
(d) Consumer
v. Which of the following is not correct about commerce:
(a) Commerce is a part of production
(b) It is divided into trade and aids to trade
(c) Commerce is part of trade
(d) Commerce is a part of economics
(vi) During the holiday you once visited a certain shop were you buy what you needed
through self-service system. What is the name of that shop?
(A) Supermarket
(B) Tied shop
(C) Mail order shop
(D) Departmental stores
vii. Suppose your fellow student asked you to identify two branches of commerce. Which alternative would you choose among the following?
(a) Trade and direct services
(b) Wholesale trade and retail trade
(c) Home trade and foreign trade
(d) Aids to trade and trade
(viii) The abbreviation C.W. O on an order form means:
(A) Cash on delivery
(B) Come with order
(C) Cash with order
(D) Customer without order
(ix) If there was a farmer who had wheat and wanted salt he had to find the one who had salt and wanted wheat. This is an example of …
(A) Lack of store of value
(B) Lack of measure of value
(C) Difficult to transport some goods
(D) Lack of double coincidence of wants
(x) For an entrepreneur to be successful he/she needs to possess number of characteristics. The following are some of them except
(A) Hard working
(B) Perseverance
(C) Money spender
(D) Risk taker
ANSWERS:
| i | ii | iii | iv | v | vi | vii | viii | ix | x |
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2. Match the items in LIST A with the responses in LIST B by writing the correct letter of an item in the table provided.
| LIST A | LIST B |
| (i) Goods where no one is excluded from using them (ii) Are the goods which last for a long period of time. (iii) Goods which are freely available by nature and in abundance (iv) Goods which are produced to assists production of other goods v) Goods which have short life span in nature | A. Capital goods B. Perishable goods C. free goods D. Fragile goods E. Public goods F. Intermediates goods G. Durable goods |
Answers:
| LIST A | i | ii | iii | iv | v |
| LIST B |
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SECTION B (70 Marks)
Answer all questions in this section
3. Assume you had the privilege to meet the minister for industry and Trade, Explain to the minister how entrepreneurial motivation will enhance economic growth in Tanzania
(five points)
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(ii) …………………………………………………………………………………………….
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4. Your friend of form four plans to start her own business after completing her studies. She wants you to explain to her different challenges facing entrepreneurs in Tanzania. Explain five (5) challenges to her.
(i) ……………………………………………………………………………………………
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(iii) ……………………………………………………………………………………………
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5. One of form one students argued that, “aids to trade plays an important role in trade” Justify the validity of this statement.
6. During the financial year of 2021, Adriano Co. Limited started opening a business of buying and selling agricultural produce with opening stock that was valued at Tshs 150 million and purchased produced goods for that period that was valued Tsh 180 million. Additionally, the closing stock for the period was valued at Tshs 30 million. Based on the given information above, calculate the following;
(i) Cost of goods sold
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(ii) Average stock
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(iii) Rate of stock turn over
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7. Just like a patient who use oxygen since cannot use his lungs to breath because they are destroyed, trade cannot go smoothly without some factors. Briefly explain five (5) factors for smooth running of trade.
(i) ……………………………………………………………………………………………
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(ii) …………………………………………………………………………………………….
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8. Shukuru has just completed his degree from the University of Dodoma. Despite many
companies’ calls to work with him, he insisted on having his own barber shop. Briefly explain five (5) benefits of his decisions.
(i) ………………………………………………………………………………………………
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(ii) ………………………………………………………………………………………………
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(iii) ………………………………………………………………………………………………
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(iv) ………………………………………………………………………………………………
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(v) ………………………………………………………………………………………………
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9. Mayele wishes to start a business of selling goods to the final consumers in his local area. He approaches you to explain attributes he is supposed to possess for him to become a successful retailer. Briefly explain five (5) attributes
(i) ………………………………………………………………………………………………
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(ii) …………………………………………………………………………………….……….
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SECTION C (15 Marks)
11. Suppose you find people with the stand that Economics and Commerce have the same meaning. As an expert in commerce, briefly rule out their stand.
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LEARNINGHUBTZ.CO.TZFORM ONE COMMERCE MODAL SERIES 22
LEARNING HUB.TZ
COMMERCE EXAMINATION FORM ONE
ANNUAL
NAME…………………………………………..CLASS……………………………TIME: 3HRS
INSTRUCTIONS:-
- Answer all questions as instructed per each question.
SECTION A
1. Write the letter of the correct answer in the BOXES provided at the end of the questions.
a) Is concerned with all business which is carried out within the country.
a)international trade (b)Retail trade (c)Producer goods (d)Domestic trade
ii) Foreign trade is divided into:
a)domestic and external trade (b)import and external trade
c) Export and Domestic trade (d) Import and export trade
iii) The aids to trade concerning with the provision and management of money and credit necessary to transfer goods to the consumers is known as:
a)Advertising (b)Banking (c)Transport (d)Insurance
iv) Is the storage of goods and services in a safety place until they are needed:
a) Communication (b) banking (c) warehouse (d) home trade
v) Branch of commerce which deals with buying and selling of goods and services from the producer to the final
consumers:
a) Commerce (b) aids to trade (c) trade (d) distribution
vi) They can be seen and touched:
a) Sources (b) goods (c) transports (d) communications
vii) Commerce is basically divided into two classes:
a) Trade and Aids to trade (b)trade and industry
c) Goods and services (d) trade and services
viii) Goods and services which are very necessary and important for live and survival of human being are called
a) Basic needs (b) luxury needs (c) consumer good (d) producer goods
ix) Constructors, carpenters, farmers are called:
a) Producers (b) consumers (c) traders (d) retailers
x) Money was valueless in this type of trade
a) Barter trade (b) wholesale trade (c) supplementary trade (d) home trade
2. MATCHING ITEMS
Choose the correct answer in GROUP A and match with correct explanation in GROUP B. Write the answer in the Boxes provided at the end of this question.
| GROUP A | GROUP B |
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SECTION B 50 MARKS
3. FILLING THE BLANKS
i____________ _____________ is a process of buying goods from the producer or manufacture in very large
quantities and sell in small quantities to the retailers.
ii) _________________________ is anything that is generally acceptable by the whole community to be used as a medium of exchange and measure of value.
iii) _________________________ is the level of production which is concerned with extraction of raw-materials from nature. Eg raining, farming, fishing etc.
iv) __________________________ is the type of industry which deals with putting together (assembling) goods (finished) from manufacturing industry in order to get new thing that can satisfy the needs or wants of the final consumers.
v)_____________________are those goods which are used to produce other goods. Example Radios, Televisions etc.
vi) ____________ includes all natural resources which are obtained in the earth surface eg soil, Forests, minerals etc.
vii) ______________________ is the process whereby the production of a particular commodity is divided into a
number of separate process, each of which is performed by different persons/workers.
viii)_________________are those costs of production which do not vary or change with the changes of output level.
ix)________________________refers to the additional costs required to produce an extra unit of output.
x)_________________________ refers to the total costs divided by the number of units of output produced.
4. Explain five importance of studying commerce
i) __________________________________________________________________________
ii)__________________________________________________________________________
iii)__________________________________________________________________________
iv)__________________________________________________________________________
v)__________________________________________________________________________
5. Describe five advantages of specialization.
i)___________________________________________________________________________
ii)__________________________________________________________________________
iii)__________________________________________________________________________
iv)__________________________________________________________________________
v)___________________________________________________________________________
6. (a) Mention the four factors of Production
i)___________________________________________________________________________
ii)___________________________________________________________________________
iii)__________________________________________________________________________
iv)__________________________________________________________________________
(b) define utility and explain four types of utility
7. Define the following terms as used in commerce;
i) Variable costs__________________________________________________________________________________
ii) Total costs____________________________________________________________________________________
iii) Secondary Production__________________________________________________________________________
iv) Division of Labour______________________________________________________________________________
v) Labour_______________________________________________________________________________________
SECTION C 30 Marks.
8. Given the following formations below find the Total costs, Marginal costs, Average costs
| Q | FC | VC | TC | AC | MC |
| 0 | 50 | 0 |
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| 1 | 50 | 30 |
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| 2 | 50 | 40 |
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| 3 | 50 | 50 |
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| 4 | 50 | 70 |
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| 5 | 50 | 90 |
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| 6 | 50 | 100 |
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| 7 | 50 | 120 |
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9. Discuss the contribution of commerce in the growth of a country
10. Describe the differences between commerce and Economics.
LEANINGHUBTZ.COM.TZ Page 1
LEARNINGHUBTZ.CO.TZFORM ONE COMMERCE MODAL SERIES 2
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