Commerce Paper 2 November 2024

1. ADrafting a company's Memorandum of Association
2. BBreaking bulk (splitting large deliveries into smaller units)
3. CManufacturing raw materials into finished goods
4. DSetting the country's exchange rate

1. Abought for final, personal use or consumption by households
2. Bused by a business to manufacture other goods
3. Cheld only by wholesalers, never sold to the public
4. Dexported without ever being sold locally

1. Abought by a household purely for personal enjoyment
2. Balways cheaper than any consumer good
3. Csold exclusively in supermarkets
4. Dused by a business to produce other goods or services, rather than consumed directly

Answer this when you sit the paper.

1. AThe proposal form
2. BThe credit transfer
3. CThe Charter Party
4. DThe wholesale market

1. Athe stop order
2. Bthe foreign exchange market
3. Cthe small claims court
4. Dthe Memorandum of Association

1. Aregulate the exchange rate between currencies
2. Bresolve minor civil disputes quickly, cheaply and informally, without needing a lawyer
3. Cset national interest rates for commercial banks
4. Dissue Memoranda of Association to new companies

1. Alarge international trade disagreements between governments
2. Bdisputes over company takeovers on the stock exchange
3. Ccriminal offences such as theft or assault
4. Da relatively small sum of money, such as a consumer complaint against a trader

1. AA debenture
2. BA trademark
3. CA stop order
4. DA quota

1. Abeing legally required to publish annual accounts to the public
2. Bnever being able to make an independent business decision
3. Cunlimited liability, meaning personal assets are at risk if the business owes money
4. Dhaving to share all profit with business partners

1. Alimited capital, since the trader relies mainly on personal savings and small loans
2. Bguaranteed unlimited access to bank funding
3. Chaving to consult a board of directors before every decision
4. Dbeing barred from ever employing any staff

1. AActing as collateral for every insurance policy
2. BSetting the terms of a Charter Party
3. CGrading goods held in a warehouse
4. DActing as a store of value, so it can be saved for later use

1. Aa warehouse process for breaking bulk
2. Ba type of intellectual property
3. Ca method of grading tobacco
4. Da measure/unit of value, so prices can be stated in it

1. Aavoid ever having to repay a debt
2. Breduce the amount of interest a bank can charge
3. Cprevent inflation from affecting their savings
4. Dfinance a major purchase, such as a house or car

1. Acancel the policy
2. Bincrease the premium being paid
3. Cnotify the insurer of the loss or event promptly
4. Dreceive compensation immediately without any checks

1. Apays out double the sum insured automatically
2. Btransfers the policy to a different insurer
3. Crefuses to communicate with the policyholder again
4. Dchecks the claim against the policy's terms before deciding on it

1. Aindemnity, restoring the policyholder to their position before the loss
2. Bprofit, so the policyholder ends up better off than before
3. Cpenalty, punishing the policyholder for the loss
4. Dchance, decided by a random draw

1. AGrowth in the use of smartphones and instant-messaging apps for business
2. BA decline in mobile phone ownership
3. CA worldwide ban on using the internet for business
4. DA return to sending all business messages exclusively by telegram

1. Aa ship hired with the charterer supplying the crew and taking full control
2. Ba ship owned outright by the charterer
3. Ca ship hired for one specific voyage
4. Da ship hired for a fixed period of time, e.g. a year

1. Aa ship hired for a fixed period of time
2. Ba ship hired for a single voyage only
3. Ca ship that can never be hired by more than one charterer
4. Da ship chartered exclusively for passenger transport

1. Aallows bulk storage of goods until they are needed
2. Beliminates the need for any transport of goods
3. Cguarantees a business will never run out of stock
4. Dremoves the need for grading or quality checks

1. Aremoving the need for a business to insure its stock
2. Bguaranteeing that goods never become obsolete
3. Cevening out seasonal gaps between supply and demand, e.g. storing a harvest for sale all year
4. Dincreasing the price of every good sold at the same rate

1. Agoods to be transported without any packaging
2. Blarge bulk deliveries to be broken down into smaller units for retailers
3. Cgoods to be sold without ever being graded
4. Da retailer to avoid ever reordering stock

1. Aonly government departments as customers
2. Bcustomers who have never heard of the product before
3. Ca small, specific segment of the market with a tailored product
4. Dthe entire market with one standardised product

1. Alow sales volume at a very high price
2. Ba product designed for one individual customer only
3. Cno advertising of any kind
4. Dhigh sales volume at a lower price, promoted through mass media

1. Aremoving the need for the farmer to grade the cotton
2. Bguaranteeing a good harvest every season
3. Cmoving the cotton from the farm to the ginnery or market
4. Dincreasing the price the ginnery pays for raw cotton

1. Agiving access to wider or more distant markets than the local one
2. Beliminating the farmer's need for storage
3. Csetting the international price of cotton
4. Dreplacing the need for farming inputs such as seed and fertiliser

1. Ais unaffected by background noise or distance
2. Bis best suited to very long, complex technical information
3. Cgives immediate two-way feedback, so misunderstandings can be clarified at once
4. Dalways leaves a permanent written record

1. Acannot be used between two people in the same room
2. Brequires a computer and internet connection
3. Cleaves no permanent record, so details can be forgotten or misquoted later
4. Dis always more expensive than written communication

1. Ais illegal for business use in Zimbabwe
2. Bcan be disrupted by noise or distance between speaker and listener
3. Cis the only communication method that keeps a permanent record
4. Dguarantees the message will never be misunderstood

1. Aguarantees every claim is paid automatically
2. Beliminates the need for a proposal form
3. Clets customers buy or renew policies online without visiting an office
4. Dremoves the need for the insurer to ever assess risk

1. Aspeeding up the processing of proposals and claims
2. Bincreasing the amount of paperwork required for a claim
3. Crestricting customer access to office hours only
4. Dpreventing insurers from keeping any customer records

1. Adesign the insurer's marketing materials
2. Bassess the risk presented by a proposal and decide whether to accept it
3. Csell insurance policies directly to walk-in customers
4. Ddeliver claim payments to policyholders in person

1. Anegotiates the wages of the insurer's sales staff
2. Bsets a premium appropriate to the level of risk identified
3. Cfixes the same premium for every policyholder regardless of risk
4. Ddecides the colour scheme of the insurer's branches

1. Athe exchange rate used for foreign claims
2. Bthe retail price of unrelated consumer goods
3. Cthe terms and conditions attached to the policy
4. Dthe national interest rate set by the central bank

Answer this when you sit the paper.

Answer this when you sit the paper.

Answer this when you sit the paper.

Answer this when you sit the paper.

1. Ahelping them identify business opportunities
2. Bguaranteeing the business will never make a loss
3. Cremoving the need to organise resources
4. Dreplacing the need for any start-up capital

1. Aavoid ever needing to plan ahead
2. Bguarantee automatic government funding
3. Cmake good decisions under risk and uncertainty
4. Davoid ever competing with other businesses

1. Athe company's name, which must end in 'Limited'
2. Bthe personal bank statements of every shareholder
3. Cthe daily attendance register of employees
4. Dthe retail price list of the company's products

1. Athe exact salary of every employee
2. Bthe day-to-day minutes of management meetings
3. Cthe personal addresses of every customer
4. Dthe objects/purpose of the company

1. Asets the national minimum wage
2. Bfixes the exchange rate for the company's foreign trade
3. Creplaces the need for a company to keep any accounts
4. Dgoverns the company's relations with the outside world/third parties

1. Acheaper to install than opening a shop counter
2. Bavailable to customers 24 hours a day
3. Cable to offer an unlimited range of goods
4. Dimmune to vandalism or theft

1. Aeliminate the need for any electricity supply
2. Boffer only a limited range of goods
3. Calways provide personal advice to customers
4. Dnever run out of stock

1. Athrowing away receipts immediately after a purchase
2. Bavoiding any comparison of prices between sellers
3. Cignoring the terms and conditions of a purchase
4. Dreading labels and checking expiry dates before buying

1. Aavoiding consumer associations entirely
2. Bkeeping receipts as proof of purchase
3. Cbuying only from unlicensed street vendors
4. Drefusing to learn about their consumer rights

1. Arelying only on the seller's own advertising for information
2. Breporting complaints to the Consumer Council of Zimbabwe
3. Chiding a fault from the seller to avoid a dispute
4. Dpaying in full before inspecting the goods delivered

1. Athe buying and selling of already-finished goods only
2. Bthe storage of goods in a warehouse until sold
3. Cthe advertising of goods to potential customers
4. Dthe creation of goods and services to satisfy human wants and needs

1. Afor one's own consumption, e.g. subsistence farming
2. Ba surplus purely for export to other countries
3. Conly goods that will be sold on the stock exchange
4. Dnothing at all, since no exchange takes place

1. Agoods that are never sold under any circumstances
2. Bservices that cannot be paid for
3. Ca surplus of goods or services to exchange or sell to others
4. Dgoods solely for the producer's own household

1. Aextracting raw materials, e.g. mining, farming or fishing
2. Bprocessing raw materials into finished goods
3. Cproviding services such as banking or transport
4. Dadvertising finished goods to consumers

1. Amanufacturing/processing raw materials into finished goods
2. Bextracting raw materials directly from the land or sea
3. Cproviding a service rather than a physical product
4. Dretailing finished goods to the final consumer