O Level Commerce Quiz

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

subsistence production

direct production

secondary production

primary production

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

primary → secondary → commercial

commercial → primary → secondary

primary → commercial → secondary

commercial → secondary → primary

3. Which is not an advantage of specialisation?

more goods are produced

prices of goods are reduced

quality of goods is improved

craftsmanship is developed

4. Which is a producer good?

Car

Tractor

Television

Umbrella

5. The reward for enterprise is

Wages

Rent

Interest

Profit

6. The purpose of an indent is to state the

goods delivered

goods available

goods required

goods insured

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

entry

exchange

lading

carriage

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

value of goods exported

value of goods imported

duty paid for imported goods

entry fees paid by tourists

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

import more goods

reduce foreign currency allocation

reduce customs duty

remove import quotas

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

advice note

delivery note

statement of account

order form

11. A wholesale formed by farmers is a

cash and carry wholesaler

general wholesaler

co-operative wholesale society

specialist wholesaler

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

advise consumers of best buys

establish consumer shops

fix the prices of goods

test goods for quality

13. Trade Measures Act deals with

weight of goods

prices of goods

quality of goods

value of goods

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

both are financed by shareholders

both have a minimum of two shareholders

both sell shares at the stock exchange

both have limited liability