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

Introduction,basic concepts and importance of insurance

By garikaib|2022-09-15T12:42:53+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit moneychoice.org ZIMSEC O Level Commerce Notes: Insurance: Introduction,basic concepts and importance of insurance

Insurance is the pooling of risks.
an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of […]

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Functions of insurance brokers

By garikaib|2022-09-15T12:42:44+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Insurance brokers. Image credit imagefiesta.com ZIMSEC O Level Commerce Notes: Insurance: Functions of insurance brokers

Functions of insurance brokers.

They bring into contact the public seeking insurance cover and insurance companies.
Are agents of insurance companies.
Gather information on insurance companies or types of policies that these offer.
Give expert advice […]

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Measures the government can use to control trade

By garikaib|2022-09-15T12:42:37+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Beitbridge border post. image credit thezimbabwemail.com ZIMSEC O Level Commerce: Measures the government can use to control trade

Trade (tariff) barriers.

These are measures taken by government to reduce imports and in some cases ban trade completely with some countries.

Customs (import) duty

A tax levied on imported […]

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Airway bill

By garikaib|2022-09-15T12:42:29+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

An Air Waybill for use with FedEx ZIMSEC O Level Commerce Notes: International Trade: Airway bill

Airway bill

Also mentioned here.
Completed when goods are carried by air.
A contract to carry goods aboard an aircraft.
An evidence of receipt of goods on board the aeroplane.
Gooes together with […]

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Advantages and Disadvantages of Private Limited Companies

By garikaib|2022-09-15T12:42:19+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Dell Private Limited. Image credit freshhotjobs.com ZIMSEC O Level Commerce Notes: Business Organisations: Advantages and Disadvantages of Private Limited Companies

Advantages

Operate as separate legal entities meaning:
they can sue and be sued in their own name.
Can make contracts in their own name.
Shareholders enjoy limited liability.
Can raise more […]

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Public corporations/ Parastatals

By garikaib|2022-09-15T12:42:07+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

A ZUPCO bus. Image credit bulawayo24.com A ZUPCO bus. Image credit bulawayo24.com ZIMSEC O Level Commerce Notes: Public Corporations/Parastatals and Public Utilities

Features

Established by an act of parliament.
Provides essential goods and services e.g. transport (NRZ)
The main aim is to provide essential services at affordable prices.
Have no profit motive.
Are separate legal […]

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Importance of Advertising

By garikaib|2022-09-15T12:41:59+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Econet Advert. Image credit techzim.co.zw ZIMSEC O Level Commerce Notes: Aids to Trade: Advertising

Advertising

Provides information on:
goods available.
Prices of goods
types of goods sold e.g. quality of goods.
Where to buy the goods.
Persuades customers to buy.
Launches new products.
Increases sales.
Increases profits.
Enables a trader to fight competition.
Reminds customers about existing goods […]

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Commerce: Benefits of Beneficiation And Value Addition
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Commerce: Benefits of Beneficiation And Value Addition

Notes, O Level Commerce Notes, Ordinary Level Notes

Commerce: Benefits of Beneficiation And Value Addition

By garikaib|2022-09-15T12:30:18+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Benefits of Beneficiation And Value Addition

The meaning and nature of beneficiation and value addition can be found here
Value addition refers to the enhancement of a product’s value usually through the manufacturing process
Beneficiation refers to value addition in the mining sector
There are benefits to carrying out beneficiation and […]

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Forms of production

By garikaib|2022-09-15T12:43:53+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Subsistence farming is an example of direct production. Image credit weebly.com ZIMSEC O Level Commerce Notes: Forms of Production

Direct production
-This is when one produces goods and services for their own consumption for example subsistence farming or a tailor making […]

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Bank Loans and Overdrafts

By garikaib|2022-09-15T12:43:44+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit forexsiteds.com ZIMSEC O Level Commerce Notes: Money and Banking: Bank Loans and Overdrafts

Bank Overdrafts

Are an informal way of borrowing money.
They are given to current account holders only.
Are a short term form of borrowing.
Interest is charged daily on the amounts owing.
The interest rate levied on these […]

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January 2023