ACCA Offices. Image credit applepieghana.com

ACCA Offices. Image credit applepieghana.com

ZIMSEC O Level Commerce Notes: Trade Associations

Is:

  • an organisation formed by traders in the same line of business/industry e.g. Association of Certified Chartered Accountants (ACCA), Bankers Association of Zimbabwe etc.
  • Is found in the private sector.
  • Protects the interests of its member traders.
  • Establishes a code of practice (rules) governing the conduct of its members.
  • Represents members when dealing with other organisations.
  • A center for exchange of information for members.
  • An advisory services bureau for members.
  • Organises, places and pays for collective advertising campaigns in the media.
  • Organises trade exhibitions.
  • Sets prices of commodities manufactured and sold by its members.
  • Ensures that the set prices are adhered to.
  • Restricts competition in prices of its members.
  • Carries out market research, on behalf of member traders, in the production and distribution of goods and services.
  • Publishes a trade journal for its particular industry e.g. ACCA magazine.
  • Maintains a fund for the association from subscriptions contributed by members for the sustenance of the association.
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