January 2023

Introduction, importance and reasons for International Trade

By |2022-09-15T12:42:39+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit energypress.eu Image credit energypress.eu ZIMSEC O Level Commerce Notes: Introduction, importance and reasons for International Trade

  • Trade is the buying and selling of goods and services in order to satisfy the needs and wants of consumers.
  • Trade between two countries is known as bilateral trade.
  • Trade between more than two countries […]
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Other documents in international trade

By |2022-09-15T12:42:32+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

An import licence. govt.nz An import licence. govt.nz ZIMSEC O Level Commerce Notes: Other documents in international trade

Import licence

  • An approval of goods to enter a country.
  • Issued by the importing country.
  • Enables the importer to obtain foreign currency to pay for the imports.

Customs specification and entry

  • Exporting country requires customs specifications.
  • Importing country requires […]
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Commerce: Sole Trader

By |2022-09-15T12:42:23+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Sole Trader. Image credit geograph.org.uk Sole Trader. Image credit geograph.org.uk ZIMSEC O Level Commerce: Sole Trader Business

Sole Trader

Features

  • Is owned by one person who provides all the capital.
  • Their motive is to make profit.
  • Tends to be small in size.
  • Has few legal formalities.
  • Easy to form as they require little start up capital.
  • Controlled and […]
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Commerce:Debentures

By |2022-09-15T12:42:10+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Debenture certificate. Image credit catawiki.com Debenture certificate. Image credit catawiki.com ZIMSEC O Level Commerce Notes: Debentures

Debentures

  • Are loan capital or money borrowed from financial institutions and individuals.
  • Earn interest at a fixed rate.
  • Interest is paid whether or not a company has made profits.
  • Debentures are creditors to the company.
  • A safe form of investment.
  • May […]
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The Standards Association of Zimbabwe

By |2022-09-15T12:42:02+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit businessdaily.co.zw Image credit businessdaily.co.zw ZIMSEC O Level Commerce Notes: The Standards Association of Zimbabwe (SAZ)

  • Adopts and adapts international standards of products, performance, safety and quality.
  • Prepares standards of products for Zimbabwean manufacturers.
  • Issues copies of standards specification to producers.
  • Tests products for quality.
  • Authorises companies to use the SAZ seal of approval.
  • Ensures that […]
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Commerce: Management Functions: Leading/Commanding

By |2022-09-15T12:30:19+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes:Management Functions: Leading/Commanding

  • As already said in the introduction to management
  • Management is defined in simple terms as the art of doing work through others
  • It involves five functions namely:
    • Planning
    • Organising
    • Leading/Commanding
    • Coordinating
    • Controlling
  • These are often called the five functions of management
  • In this section, we will talk about leading/commanding

    • […]

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Money and its characteristics

By |2022-09-15T12:43:47+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Money. Image credit noirg.org Money. Image credit noirg.org ZIMSEC O Level Commerce Notes: Money and its characteristics

  • Money was developed to overcome some of the problems of barter trade.
  • There are many forms of money viz:
  • Bank notes and coins
  • Cheques
  • Money orders
  • Bills of exchange
  • Postal Orders

Legal tender

  • Bank notes and coins are legal tender.
  • These are issued […]
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Advantages and disadvantages of large-scale retailing

By |2022-09-15T12:43:27+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit spar-international.com Image credit spar-international.com ZIMSEC O Level Commerce Notes: Retail Trade: Advantages and disadvantages of large-scale retailing

Advantages of large-scale retailing

The retailers have large amounts of capital which allows them to:

  • buy goods in bulk on cash at low prices
  • advertise the goods
  • operate own transport
  • build own warehouse
  • employ specialists
  • can sell goods at […]
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