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ZIMSEC O Level · 4049/01 · J2023

Commerce Paper 1 June 2023

Questions
39
Time allowed
75 min
Syllabus code
4049/01

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Questions
39
Pass mark
24
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Answer every question in the printed order, get marked at the end, then see the answers.

The questions

Question 1

Business environment
A system where a few individuals own the means of production is
  1. Acapitalism.
  2. Bcommunism.
  3. Cfeudalism.
  4. Dsocialism.

Question 2

Production
Removing impurities from raw materials is
  1. Abeneficiation.
  2. Bproduction.
  3. Cspecialisation.
  4. Dvalue addition.

Question 3

Production
Specialisation is
  1. Abreaking down a production process.
  2. Bconcentrating on producing a particular product.
  3. Cproviding goods and services.
  4. Dseparating work into simple tasks.

Question 4

Production
Value addition is described as
  1. Achanging the nature of materials.
  2. Bincreasing the value of commodities.
  3. Creducing the value of commodities.
  4. Dremoving impurities from raw materials.

Question 5

Retail trade
Which is a feature of a small scale retailer?
  1. Ahas large capital
  2. Bhas many branches
  3. Chas few legal formalities
  4. Dserves large dispersed markets

Question 6

International trade
The difference between home trade and foreign trade is that
  1. Ahome trade involves long distances while foreign trade involves short distances
  2. Bhome trade involves many middlemen while foreign trade involves few middlemen
  3. Chome trade involves many risks while foreign trade involves few risks
  4. Dhome trade involves fewer trade barriers while foreign trade involves many trade barriers

Question 7

International trade
The foreign trade figures for country X, in millions of dollars, are: exported goods 800, imported goods 500, receipts from tourists 250 and payment for use of foreign transport 100. What is the balance of trade for country X?
  1. Aminus $300 million
  2. Bplus $300 million
  3. Cplus $350 million
  4. Dplus $1 300 million

Question 8

International trade
The foreign trade figures for country X, in millions of dollars, are: exported goods 800, imported goods 500, receipts from tourists 250 and payment for use of foreign transport 100. What is the balance of payments for country X?
  1. Aplus $300 million
  2. Bplus $450 million
  3. Cplus $550 million
  4. Dplus $600 million

Question 9

International trade
The Zimbabwe Revenue Authority performs the following functions except
  1. Achecking passports.
  2. Benforcing quotas.
  3. Ccollecting import duties.
  4. Dsupervising bonded warehouse.

Question 10

Markets
Which product is sold through commodity markets?
  1. Abook
  2. Bcellphone
  3. Crubber
  4. Dtomatoes

Question 11

Consumer protection
The right to redress ensures that consumers
  1. Aare accorded a fair settlement of just claims.
  2. Bare protected from environmental hazards.
  3. Care protected against goods that are dangerous to their health.
  4. Dhave access to different types of goods and services.

Question 12

Consumer protection
Which Act ensures that goods are fit for the purpose for which they are sold?
  1. AFood and Drinks Act.
  2. BFood and Drugs Act.
  3. CMerchandise Marks Act.
  4. DSale of Goods Act.

Question 13

Consumer protection
A seal of approval certifies that goods
  1. Aare correctly labelled.
  2. Bare correctly weighed.
  3. Chave passed a quality test.
  4. Dhave been produced in a factory.

Question 14

Business units
Which is an advantage of multinational corporation?
  1. Abrings obsolete technology
  2. Bcreates employment opportunities
  3. Ccompetes with infant industries
  4. Drepatriates profits to its country

Question 15

Business units
Which of the following documents certifies that a company has complied with the Companies Act?
  1. AArticles of Association.
  2. BCertificate of Incorporation.
  3. CCertification of trading.
  4. DMemorandum of Association.

Question 16

Business units
Why is the government encouraging the development of Small to Medium Enterprises (SMEs)?
  1. Ato gain political mileage
  2. Bto reduce employment opportunities
  3. Cto bring variety of goods
  4. Dto reduce on industrial expansion

Question 17

Business units
The role of public sector business organisation is
  1. Ato control strategic industries.
  2. Bto earn income for individuals.
  3. Cto make profit at all cost.
  4. Dto control all sectors of the economy.

Question 18

Business ethics
An element of business ethics which requires an organisation to be reliable is
  1. Afairness.
  2. Bhonest.
  3. Cintegrity.
  4. Dmorale.

Question 19

Business ethics
Plagiarism is an infringement of
  1. Acommercial law.
  2. Bcopyright law.
  3. Cintellectual law.
  4. Dmerchantile law.

Question 20

Entrepreneurship
Which characteristic best describes a business person who invents new products?
  1. Ahard worker.
  2. Binnovative.
  3. Cpassionate.
  4. Dresourcefulness.

Question 21

Entrepreneurship
The importance of a business plan is to assist in
  1. Apromoting creativity in business.
  2. Bluring customers into business.
  3. Csecuring funding at start-up phase.
  4. Dventuring in business for the first time.

Question 22

Business finance
What type of personal investment allows the investor to own part of a business?
  1. Abonds
  2. Bdividends
  3. Ccommission
  4. Dshares

Question 23

Money and banking
A function of money which allows buying of goods on credit and paying for them later is
  1. Ameasure of value.
  2. Bmedium of exchange.
  3. Cstore of wealth.
  4. Dstandard for deferred payment.

Question 24

Markets
A source of income for an agent is
  1. Aa commission.
  2. Ban interest.
  3. Ca profit.
  4. Da salary.

Question 25

Insurance
The sale of insurance policies online is
  1. Aelectronic mailing.
  2. Belectronic commerce.
  3. Celectronic assurance.
  4. Delectronic insurance.

Question 26

Insurance
Which insurance policy is compulsory under Road Traffic Act?
  1. AFire insurance.
  2. BFull third party insurance.
  3. CThird party motor insurance.
  4. DComprehensive motor vehicle insurance.

Question 27

Insurance
Assurance covers
  1. Aworkers injured in a factory.
  2. Bpassengers injured in a car accident.
  3. Ccustomers injured in a shop by falling shelves.
  4. Dbusiness owner injured in an accident.

Question 28

Insurance
Which is the order of effecting an insurance policy?
  1. Afill proposal form, pay premium, get quotation, obtain policy
  2. Bget quotation, fill proposal form, pay premium, obtain policy
  3. Cobtain policy, fill proposal form, pay premiums, get quotation
  4. Dpay premiums, get quotation, fill proposal form, obtain policy

Question 29

Communication
Which factor is considered when choosing a mode of communication?
  1. Athe cost involved
  2. Bthe distance involved
  3. Cthe length of the message
  4. Dthe receiver of the message

Question 30

Communication
A postal service hired from the Post Office to stamp letters is
  1. Aexpedited mail.
  2. Bfree post.
  3. Cregistered mail.
  4. Da franking machine.

Question 31

Communication
What is internet?
  1. AIt is a global computer network.
  2. BIt is an internal communication system.
  3. CIt is a mobile network provider.
  4. DIt is a mobile telephone used for communication.

Question 32

Communication
Which Information Communication Technology (ICT) is used to book flights online?
  1. AE-commerce
  2. BE-mail
  3. CE-ticketing
  4. DE-tolling

Question 33

Transport
Which one is a disadvantage of using containers?
  1. AThey reduce the need for warehouses.
  2. BThere is need for expensive handling equipment.
  3. CThey result in fast turnaround of transport.
  4. DThey result in reduction of freight charges.

Question 34

Transport
In evolution of transport, why were rail buckets replaced by steam engines?
  1. AThey used air pollution.
  2. BThey were difficult to load.
  3. CThey were not properly invented.
  4. DThey were pushed by people.

Question 35

Warehousing
A specialised warehouse used to store wine is a
  1. Acellar.
  2. Btanker.
  3. Crefridgerator.
  4. Dsilo.

Question 36

Warehousing
Which product is most likely to be kept in a wholesaler warehouse?
  1. Abeef
  2. Bfruits
  3. Cwheat
  4. Dsugar

Question 37

Markets
A market where buyers and sellers transact on-line is
  1. Aan auction.
  2. Ba black market.
  3. Ca financial market.
  4. Da virtual market.

Question 38

Markets
Which is a disadvantage of virtual markets?
  1. ACustomers can not evaluate products.
  2. BSuppliers get to know their customers personally.
  3. CCustomers incur high cost of travelling to shops.
  4. DSuppliers have knowledge of their customers' credit worthiness.

Question 39

Marketing
Which method of advertising appeal lures customers by creating an impression of being respected?
  1. AComedy
  2. BSuccess
  3. CHero worshipping
  4. DSocial acceptance

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