LEARNING HUB.TZ
COMMERCE EXAMINATION FORM ONE
ANNUAL
NAME…………………………………………..CLASS……………………………TIME: 3HRS
INSTRUCTIONS:-
SECTION A
1. Write the letter of the correct answer in the BOXES provided at the end of the questions.
a) Is concerned with all business which is carried out within the country.
a)international trade (b)Retail trade (c)Producer goods (d)Domestic trade
ii) Foreign trade is divided into:
a)domestic and external trade (b)import and external trade
c) Export and Domestic trade (d) Import and export trade
iii) The aids to trade concerning with the provision and management of money and credit necessary to transfer goods to the consumers is known as:
a)Advertising (b)Banking (c)Transport (d)Insurance
iv) Is the storage of goods and services in a safety place until they are needed:
a) Communication (b) banking (c) warehouse (d) home trade
v) Branch of commerce which deals with buying and selling of goods and services from the producer to the final
consumers:
a) Commerce (b) aids to trade (c) trade (d) distribution
vi) They can be seen and touched:
a) Sources (b) goods (c) transports (d) communications
vii) Commerce is basically divided into two classes:
a) Trade and Aids to trade (b)trade and industry
c) Goods and services (d) trade and services
viii) Goods and services which are very necessary and important for live and survival of human being are called
a) Basic needs (b) luxury needs (c) consumer good (d) producer goods
ix) Constructors, carpenters, farmers are called:
a) Producers (b) consumers (c) traders (d) retailers
x) Money was valueless in this type of trade
a) Barter trade (b) wholesale trade (c) supplementary trade (d) home trade
2. MATCHING ITEMS
Choose the correct answer in GROUP A and match with correct explanation in GROUP B. Write the answer in the Boxes provided at the end of this question.
GROUP A | GROUP B |
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SECTION B 50 MARKS
3. FILLING THE BLANKS
i____________ _____________ is a process of buying goods from the producer or manufacture in very large
quantities and sell in small quantities to the retailers.
ii) _________________________ is anything that is generally acceptable by the whole community to be used as a medium of exchange and measure of value.
iii) _________________________ is the level of production which is concerned with extraction of raw-materials from nature. Eg raining, farming, fishing etc.
iv) __________________________ is the type of industry which deals with putting together (assembling) goods (finished) from manufacturing industry in order to get new thing that can satisfy the needs or wants of the final consumers.
v)_____________________are those goods which are used to produce other goods. Example Radios, Televisions etc.
vi) ____________ includes all natural resources which are obtained in the earth surface eg soil, Forests, minerals etc.
vii) ______________________ is the process whereby the production of a particular commodity is divided into a
number of separate process, each of which is performed by different persons/workers.
viii)_________________are those costs of production which do not vary or change with the changes of output level.
ix)________________________refers to the additional costs required to produce an extra unit of output.
x)_________________________ refers to the total costs divided by the number of units of output produced.
4. Explain five importance of studying commerce
i) __________________________________________________________________________
ii)__________________________________________________________________________
iii)__________________________________________________________________________
iv)__________________________________________________________________________
v)__________________________________________________________________________
5. Describe five advantages of specialization.
i)___________________________________________________________________________
ii)__________________________________________________________________________
iii)__________________________________________________________________________
iv)__________________________________________________________________________
v)___________________________________________________________________________
6. (a) Mention the four factors of Production
i)___________________________________________________________________________
ii)___________________________________________________________________________
iii)__________________________________________________________________________
iv)__________________________________________________________________________
(b) define utility and explain four types of utility
7. Define the following terms as used in commerce;
i) Variable costs__________________________________________________________________________________
ii) Total costs____________________________________________________________________________________
iii) Secondary Production__________________________________________________________________________
iv) Division of Labour______________________________________________________________________________
v) Labour_______________________________________________________________________________________
SECTION C 30 Marks.
8. Given the following formations below find the Total costs, Marginal costs, Average costs
Q | FC | VC | TC | AC | MC |
0 | 50 | 0 |
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1 | 50 | 30 |
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2 | 50 | 40 |
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3 | 50 | 50 |
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4 | 50 | 70 |
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5 | 50 | 90 |
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6 | 50 | 100 |
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7 | 50 | 120 |
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9. Discuss the contribution of commerce in the growth of a country
10. Describe the differences between commerce and Economics.
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LEARNINGHUBTZ.CO.TZFORM ONE COMMERCE MODAL SERIES 2