Factors of Production
ZIMSEC O Level Commerce Notes: Factors of Production
- The four factors of production act as inputs during the production process.
- They are also generally known as resources.
To access more topics go to the Commerce Notes page.
January 2023
Credit Cards
Details on a credit card. Image credit psdgraphics.com ZIMSEC O Level Commerce Notes: Money and Banking: Credit Cards
Bank Credit Cards
- They all a customer or cardholder to buy on credit up to a limited amount on card.
- Are used to draw cash from the […]
Supermarkets
PicknPay supermarket. Picture by Source
ZIMSEC O Level Commerce Notes: Retail Trade: Supermarkets
Supermarket
A large shop with a minimum floor area of 186 square meters, sells household goods and grocery on a cash and carry basis. They are mainly situated in busy areas like suburbs and […]
Primary producer warehouses
GMB Silo. Image by TheZimbabwean.co ZIMSEC O Level Commerce Notes: Warehousing: Primary producer warehouses
Primary producer warehouses
- There are two main types of primary producers warehouses in Zimbabwe:
- Grain silos used to store grain by the Grain Marketing Board.
- Tobacco Auction Floors.
Grain Silo
- Run and managed by the Grain Marketing […]
Television Media
TV is an example of advertising media. Image credit zopper.com ZIMSEC O Level Commerce notes: Advertising: Television
- Produces both sound and vision
- Provides wide (usually national) coverage
- Advertising on colour Television is atractive and has greater impact on the audience.
- Advertisements can be repeated.
- Detailed information […]
Modes of transport: Air transport
A DHL cargo plane. Image credit airnewstimes.co.uk ZIMSEC O Level Commerce Notes: Transport: Air transport
Air transport.
Advantages
- Is fast over long distances.
- It is a relatively safe mode of transporting goods i.e.:
- There are less riks of theft of and damage of goods during transportation.
- The insurance costs […]
Registered Mail and Recorded Deliveries
Registered mail. Image credit grosvenorauctions.com ZIMSEC O Level Commerce Notes: Communication: Registered Mail and Recorded Deliveries
Registered mail.
- Used to send cash and valuables like certificates.
- Special envelopes are used.
- Articles must be handed over the counter.
- A receipt is obtained as proof of postage.
- They can be traced if lost.
- Can […]
Proximate cause and the Average clause: Under and over insuring
Image credit yourinsurancequestion.com ZIMSEC O Level Commerce Notes: Insurance: Proximate cause and the Average clause: Under and over insuring
- This prevents the insured from making a profit by:
1) Under-insuring a risk or paying less premiums.
- When a loss is incurred under such circumstances the insurer will not indemnify the […]
Functions of wholesalers: To producers and manufactures
Wholesale shop. Image credit stocktraque.com ZIMSEC O Level Commerce Notes: Wholesale Trade: Functions of wholesalers: To producers and manufactures
To the producers/manufacturers
- The wholesaler:
- Collects orders from numerous retailers.
- Provides manufacturers with market information on consumer want and competitor activities.
- Stores finished products.
- Clears manufacturer’s production lines thus allowing manufacturers and […]
Excise Duty and the calculation of duty
Image credit sofiaecho.com ZIMSEC O Level Commerce Notes: Excise Duty
Why excise duty is paid?
- Excise duty is taxed on certain specified home produced goods for example tobacco meant for consumption in the home market in order to:
- Raise revenue for the government.
- Discourage consumption of dangerous products.
- Reduce domestic demand.
- Release more […]