commerce notes Archives - Free ZIMSEC & Cambridge Revision Notes

Forms of production

By garikaib|2022-09-15T12:43:53+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Subsistence farming is an example of direct production. Image credit weebly.com ZIMSEC O Level Commerce Notes: Forms of Production

Direct production
-This is when one produces goods and services for their own consumption for example subsistence farming or a tailor making […]

Comments Off

ATM:Automated Teller Machines

By garikaib|2022-09-15T12:43:36+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

An ATM. Image credit Securityaffairs.co ZIMSEC O Level Commerce Notes: Money and Banking: ATM:Automated Teller Machines

ATMs

Are fitted on the outside walls of banks are shopping malls.
They are used to withdraw cash.
They operate 24 hours a day.
It is a self-service facility.
The customer follows on screen instructions.
Upon […]

Comments Off

E-commerce

By garikaib|2022-09-15T12:43:26+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

E commerce. Image credit techniasia.com ZIMSEC O Level Commerce Notes: Retail Trade: E-commerce

It is a system of buying and selling goods and services electronically.
The system operates through a computer connected to the internet or a television which has satellite connections. The products sold should […]

Comments Off

Collective/Generic Advertising

By garikaib|2022-09-15T12:43:19+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

An ad by a dentist's association encouraging people to brush their teeth regulary. Image credit theunknownbutnothidden.com 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 […]

Comments Off

Transport Modes: Road Transport

By garikaib|2022-09-15T12:43:10+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes, Transport|

A goods truck. Image credit utahship.org ZIMSEC O Level Commerce Notes: Transport: Transport Modes: Road Transport

Road transport

Advantages

Is fast over short distances.
Is cheap over short distances.
It is direct and offers door to door delivery services
there is a wide network of roads already available meaning
even remote […]

Comments Off

Private Bags and Post Office Boxes

By garikaib|2022-09-15T12:43:02+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Post Office Boxes. Image credit blogspot.com ZIMSEC O Level Commerce Notes: Communication: Private Bags and Post Office Boxes

Post Office Boxes.

Are used by people without street addresses to receive mail.
Boxes are rented from the Post Office.
Boxes are built on the outside walls of the Post […]

Comments Off

Insurable Interest and utmost good faith

By garikaib|2022-09-15T12:42:52+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit classicsandcustoms.com ZIMSEC O Level Commerce Notes: Insurance: Insurable Interest and Utmost good Faith

Insurable interest

Enables one to insure one’s own property.
Where the insured should directly suffer financial loss if the risk occurs.
One cannot insure the property of another.
Because on has no insurable interest.
If one insures the […]

Comments Off

Cash and carry wholesalers

By garikaib|2022-09-15T12:42:41+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Wholesale shop. Image credit link51.com ZIMSEC O Level Commerce Notes: Wholesale Trade: Cash and carry wholesalers

These wholesalers:
Sell goods on a cash and carry basis.
Sell both retailers and consumers i.e. they sell goods in bulk and case lots.
Use self-service methods of selling.
Display goods.
Have check-out points.
Have security measures.
Sell […]

Comments Off

Brokers in International trade

By garikaib|2022-09-15T12:42:34+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Zafana Trade brokers. Image credit zafanankositrading.com ZIMSEC O Level Commerce Notes: Brokers

Brokers

Work in foreign trade as agents.
Bring buyers and sellers into contact
Buy or sell goods on behalf of their principals ( who can be manufacturers or importers)
Do not possess the goods they sell but […]

Comments Off

Importance of Consumer protection

By garikaib|2022-09-15T12:42:26+02:00January 24th, 2023|Notes, O Level Commerce Notes, Ordinary Level Notes|

Consumer protection. Image credit ebony.com ZIMSEC O Level Commerce Notes: Importance of Consumer protection

Importance of consumer protection.

Consumers need to be protected from and against:
Misleading advertisements which make false claims for example, “This herb can cure all forms of ailments including AIDS and Cancer.”
Indecent or immoral […]

Comments Off

January 2023