The principle of insurance that ensures the insured is not overcompensated is:

Match the items in List A with the responses in List B by writing the letter of the correct response beside the item number in your answer booklet.

1. A tax imposed on home-produced goods (1 mk)
2. A condition where purchasing power exceeds the output of goods (1 mk)
3. A retail outlet selling a variety of goods under one roof (1 mk)
4. A document showing ownership of goods in a warehouse (1 mk)
5. A tax system where low-income earners pay a higher percentage (1 mk)
6. A method of protecting against price fluctuations (1 mk)
7. A partnership where one partner does not participate in management (1 mk)
8. The process of valuing all goods on hand periodically (1 mk)
9. A canon of taxation ensuring tax rules are clear (1 mk)
10. A means of transmitting information electronically (1 mk)

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Write short notes on the following: (a) Aids to trade (b) Buffer stock (c) Price list (d) Indirect production (e) Corporate tax

1. Aids to trade (2 mk)
2. Buffer stock (2 mk)
3. Price list (2 mk)
4. Indirect production (2 mk)
5. Corporate tax (2 mk)

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State three advantages and two disadvantages of a sole proprietorship to the owner.

1. Two disadvantages of a sole proprietorship to the owner. (2 mk)

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(a) Define a bill of lading. (b) Draft a bill of lading with the following details: (i) Shipper: Amani Traders, Dar es Salaam (ii) Consignee: Kofi Imports, Nairobi (iii) Goods: 500 bags of maize (iv) Vessel: MV Kilimanjaro (v) Date of shipment: May 24, 2025 (vi) Port of loading: Dar es Salaam (vii) Port of discharge: Mombasa

1. Define a bill of lading. (3 mk)
2. Define a bill of lading. (3 mk)
3. Draft a bill of lading with the following details: Shipper: Amani Traders, Dar es Salaam, Consignee: Kofi Imports, Nairobi, Goods: 500 bags of maize, Vessel: MV Kilimanjaro, Date of shipment: May 24, 2025, Port of loading: Dar es Salaam, Port of discharge: Mombasa (7 mk)
4. Draft a bill of lading with the following details: Shipper: Amani Traders, Dar es Salaam Consignee: Kofi Imports, Nairobi Goods: 500 bags of maize Vessel: MV Kilimanjaro Date of shipment: May 24, 2025 Port of loading: Dar es Salaam Port of discharge: Mombasa (7 mk)

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Study the following demand and supply schedule for tomatoes in Tanzania: Price per kg (Shs) Quantity Demanded (kg) Quantity Supplied (kg) 500 10,000 2,000 600 8,000 4,000 700 6,000 6,000 800 4,000 8,000 (a) Draw the demand and supply curves on the same pair of axes. (b) Indicate the equilibrium price and quantity. (c) Calculate the price elasticity of supply when the price changes from Shs. 600 to Shs. 700. (d) Comment on the elasticity result in (c).

1. Draw the demand and supply curves on the same pair of axes. (5 mk)
2. Draw the demand and supply curves on the same pair of axes. (5 mk)
3. Indicate the equilibrium price and quantity. (2 mk)
4. Indicate the equilibrium price and quantity. (2 mk)
5. Calculate the price elasticity of supply when the price changes from Shs. 600 to Shs. 700. (4 mk)
6. Calculate the price elasticity of supply when the price changes from Shs. 600 to Shs. 700. (5 mk)
7. Comment on the elasticity result in (c). (4 mk)
8. Comment on the elasticity result in (c). (3 mk)

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(a) What is a hypermarket? (b) Outline five advantages of a hypermarket to consumers in Tanzania.

1. What is a hypermarket? (3 mk)
2. Outline five advantages of a hypermarket to consumers in Tanzania. (7 mk)

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(a) Define taxation. (b) Explain five reasons why the government of Tanzania collects taxes from its citizens.

1. Define taxation. (3 mk)
2. Explain five reasons why the government of Tanzania collects taxes from its citizens. (7 mk)

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(a) What is management? (b) State and explain five basic functions of management in a business.

1. What is management? (3 mk)
2. State and explain five basic functions of management in a business. (7 mk)

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Explain five challenges facing small-scale retailers in Tanzania and suggest possible solutions.

1. Five challenges facing small-scale retailers in Tanzania and suggest possible solutions. (10 mk)

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