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.
February 2025
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 […]
The clearing of cheques
Image credit dailymail.co.uk ZIMSEC O Level Commerce Notes: Money and Banking: The clearing of Cheques.
- There are three ways and circumstances in which a cheque may be cleared.
If the payee and drawer use the same bank and branch
- The payee deposits the cheque into his/her account.
- The payee is credited […]
Franchising
Nandos shop. Image credit lovealdershot.co.uk ZIMSEC O Level Commerce Notes: Retail Trade: Franchising
Franchising
- A franchise is an agreement in which a retailer (franchiser) gives the right to another trader (franchisee) to use the name of the business and to sell the franchiser’s products in a given […]
Collective/Generic Advertising
An ad by a dentist’s association encouraging people to brush their teeth regulary. Image credit theunknownbutnothidden.com ZIMSEC O Level Commerce Notes: Advertising: Collective/Generic Advertising
Collective or Generic advertising
- Is used by a number of producers in […]
Code of advertising practice
Image credit gatech.edu ZIMSEC O Level Commerce Notes: Advertising: Code of advertising practice
Code of advertising practice
Its importance
- It establishes basic standards of advertising.
- It ensures that advertisements are:
- legal i.e. they follow the set advertising laws and metes sets out the punishments for transgressors.
- Ethical i.e. are they realistic and do they adhere […]
Ocean Tankers
An oil tanker. Image credit arabiangazette.com ZIMSEC O Level Commerce Notes: Transport: Ocean Tankers
Tankers
- They are large in size ranging from a few thousand tons to over 500 000 tons in size.
- They are a bulky type of carrier ship that specialise in transporting liquids e.g. […]
Email and Internet
Gmail app. Image credit play.google.com ZIMSEC O Level Commerce Notes: Communication: Email and Internet
Electronic Mail (Email)
- Is the communication of information:
- using a computer.
- Via a telephone circuit.
- The information is sent from one computer to another.
- From one computer to several computers at the same time.
- It uses modems.
- Each subscriber […]
Life Assurance
Life Assurance. Image credit afterjujuman.com ZIMSEC O Level Commerce Notes: Insurance: Life Insurance
Life assurance
- Covers against events that will certainly occur e.g. death.
- The principle of indemnity does not apply.
- Benefits are paid to spouses and children who are the beneficiaries of the policy.
Whole life policy.
- One assures his/he […]
Difficulties faced by importers and exporters
The dreaded Somali Pirates. Image credit slate.com ZIMSEC O Level Commerce Notes: Difficulties faced by importers and exporters
- Different languages
- Language is a barrier in international trade because it leads to communication problems.
- There is a need to translate information or instructions from one language to […]