O Level Commerce Quiz

1. In which stage of production is more value added to goods?

direct production

primary production

secondary production

subsistence production

2. Which is the correct order in the production process?

primary → secondary → commercial

commercial → primary → secondary

commercial → secondary → primary

primary → commercial → secondary

3. Which is not an advantage of specialisation?

craftsmanship is developed

prices of goods are reduced

more goods are produced

quality of goods is improved

4. Which is a producer good?

Car

Television

Tractor

Umbrella

5. The reward for enterprise is

Profit

Rent

Interest

Wages

6. The purpose of an indent is to state the

goods required

goods insured

goods available

goods delivered

7. The document used when goods are transported by sea is a bill of

lading

entry

exchange

carriage

8. What is not considered when calculating the balance of trade?

entry fees paid by tourists

duty paid for imported goods

value of goods exported

value of goods imported

9. Which action is taken to correct an unfavourable balance of payment?

remove import quotas

reduce customs duty

import more goods

reduce foreign currency allocation

10. Which document is used to request payment from customers?

order form

delivery note

advice note

statement of account

11. A wholesale formed by farmers is a

cash and carry wholesaler

co-operative wholesale society

specialist wholesaler

general wholesaler

12. Which is a function of the Consumer Council of Zimbabwe (CCZ)?

fix the prices of goods

establish consumer shops

test goods for quality

advise consumers of best buys

13. Trade Measures Act deals with

weight of goods

value of goods

quality of goods

prices of goods

14. Which is not true of Private Limited Companies and Public Limited Companies?

both sell shares at the stock exchange

both have a minimum of two shareholders

both have limited liability

both are financed by shareholders