O Level Commerce Quiz

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

primary production

direct production

secondary production

subsistence production

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

primary → commercial → secondary

primary → secondary → commercial

commercial → primary → secondary

commercial → secondary → primary

3. Which is not an advantage of specialisation?

quality of goods is improved

prices of goods are reduced

more goods are produced

craftsmanship is developed

4. Which is a producer good?

Umbrella

Car

Tractor

Television

5. The reward for enterprise is

Interest

Wages

Rent

Profit

6. The purpose of an indent is to state the

goods delivered

goods available

goods insured

goods required

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

entry

exchange

carriage

lading

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

value of goods exported

entry fees paid by tourists

value of goods imported

duty paid for imported goods

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

remove import quotas

reduce customs duty

reduce foreign currency allocation

import more goods

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

statement of account

delivery note

order form

advice note

11. A wholesale formed by farmers is a

cash and carry wholesaler

general wholesaler

specialist wholesaler

co-operative wholesale society

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

establish consumer shops

fix the prices of goods

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 have a minimum of two shareholders

both sell shares at the stock exchange

both are financed by shareholders

both have limited liability