O Level Commerce Notes Archives - Page 15 of 24 - Free ZIMSEC & Cambridge Revision Notes

Surface and Airmail

By garikaib|2025-02-12T09:31:54+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

An Airmail envelope. Image credit prexie-era.org ZIMSEC O Level Commerce Notes: Communication: Surface and Airmail

Both forms of mail are often colloquially referred to as snail mail.

Surface mail

mail is sent by land to its destination.
Ordinary envelopes are used.
The postage cost is low.
The delivery time is […]

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Importance of statistics to insurance

By garikaib|2025-02-12T08:58:26+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit dhariya.com ZIMSEC O Level Commerce Notes: Insurance: Importance of statistics to insurance

Importance of statistical records in insurance.

Actuaries make extensive use of statistics in insurance
Insurance contracts are based on the statistics.
Risk is asses to determine whether:
It can be accepted or not.
Help in determining a fair premium.
At […]

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Functions of insurance underwriters

By garikaib|2025-02-12T09:11:57+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Old Mutual. Image credit thezimbabwedaily.com ZIMSEC O Level Commerce Notes: Insurance: Functions of insurance underwriters

Functions of underwriters.

Are insurers (insurance companies) who provide insurance cover.
Assess risks (examine details in the proposal form)
Cover or accept risks by:
Singing their names against risks they have agreed to cover.
Charge and […]

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Trading Blocs

By garikaib|2025-02-12T09:27:04+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

SADC meeting. Image credit lestimes.com SADC meeting. Image credit lestimes.com ZIMSEC O Level Commerce Notes:Trading Blocs

A trading bloc is a group of countries that has removed/reduced trade restrictions between and among member states in order to facilitate trade.
Examples of trade blocs are SADC, COMESA, ECOWAS, ACP […]

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Cable (telegraphic) money transfer

By garikaib|2025-02-12T09:42:17+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit kanooncurrency.co.uk ZIMSEC O Level Commerce Notes: Cable (telegraphic) money transfer

A method of sending and receiving payments.
Payments are made using telegraph,cable or telephone.
Payment is made in foreign currency.
Money is transferred from the debtor’s (importer’s) account to the creditor’s (exporter’s) account.
A safe and fast way of making payments.
Money […]

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Advantages and Disadvantages of Public Limited Companies

By garikaib|2025-02-12T09:05:33+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Econet is an example of a PLC ZIMSEC O Level Commerce Notes: Business Organisations: Advantages and Disadvantages of Public Limited Companies

Advantages

They are separate legal entities.
Shareholders have limited liability.
Shares can be freely transferred on the stock exchange.
Membership is open to the public since shares are […]

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Advantages and disadvantages of Public corporations/ Parastatals

By garikaib|2025-02-12T09:17:25+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Megawatt building. Image credit newsday.co.zw ZIMSEC O Level Commerce Notes: Advantages and disadvantages of Public corporations/ Parastatals

Advantages

The government controls the provision of strategic products.
Provides products at cheap prices.
Provides employment to people.
Reduces duplication of resources .
Enjoy limited liability.
Implement government policies i.e. in terms of setting the […]

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Importance of Banking

By garikaib|2025-02-12T09:31:26+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit voanewszimbabwe.com ZIMSEC O Level Commerce Notes: Aids to Trade: Banking

Banking

Enables making of payments.
Enables receiving of payment through cheques, stop order or bill of exchange.
Keeps money safe through current, savings, deposit and fixed accounts.
Acts as trustees and executors.
Acts as underwriters when they buy unsubscribed shares of public […]

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Commerce: The Business Environment: Introduction
Gallery
Commerce: The Business Environment: Introduction

Notes, O Level Commerce Notes, Ordinary Level Notes

Commerce: The Business Environment: Introduction

By garikaib|2025-02-12T09:44:10+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: The Business Environment

It is a common cause that businesses do not operate in a vacuum
There are a number of factors that affect the way a business operates
These factors can be external to the business i.e. outside the business itself
They can, however, be internal i.e. factors that are to […]

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Division of labour and mass production

By garikaib|2025-02-12T09:18:23+02:00February 12th, 2025|Notes, O Level Commerce Notes, Ordinary Level Notes|

Division of labour on an assembly line production. Image credit youtube.com ZIMSEC O Level Commerce Notes: Division of Labour and Mass production

DIVISION OF LABOUR
Production activites can be classified according to two basic principles:

Division of Labour
this refers to the breakdown […]

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February 2025