. . . . . . is a means used by producers to identify their products from other manufacturers.

Match the items in List A with the responses in List B by writing the letter of the correct response beside the item number. LIST A LIST B A. Unity of command (i) Is the reward for capital B. Indirect taxation (ii) The import and export of intangible items (iii) The process whereby the demand for the products of a business enterprise is created C. Inferior goods (iv) An event against which an insurance policy is taken out. D. Average stock (v) Is one for which an increase in income leads to a decrease in the amount demanded, other things being equal E. Marine insurance (vi) In management whereby one employee is answerable to one supervisor only F. Visible trade (vii) The quantity of a certain supply that should always be in stock to safeguard sales against unforeseen delays in delivery G. Invisible trade (viii) Enables those with small incomes to be reached (ix) Refers mainly to insurance of ships and goods in ships H. Unity of objectives (x) Is an instruction to a bank to pay a specified sum of money to a named person at regular interval I. Standing order J. Sales K. Normal goods L. Sales promotion M. Loss N. Interest O. Profit P. Shipping insurance Q. Minimum stock R. Credit taxation S. Direct taxation T. Risk

1. Unity of command matches with (vi) In management whereby one employee is answerable to one supervisor only (1 mk)
2. Is the reward for capital (1 mk)
3. The import and export of intangible items (1 mk)
4. Indirect taxation matches with (viii) Enables those with small incomes to be reached (1 mk)
5. Inferior goods matches with (v) Is one for which an increase in income leads to a decrease in the amount demanded, other things being equal (1 mk)
6. The process whereby the demand for the products of a business enterprise is created (1 mk)
7. An event against which an insurance policy is taken out. (1 mk)
8. Average stock matches with (vii) The quantity of a certain supply that should always be in stock to safeguard sales against unforeseen delays in delivery (1 mk)
9. Marine insurance matches with (ix) Refers mainly to insurance of ships and goods in ships (1 mk)
10. Is one for which an increase in income leads to a decrease in the amount demanded, other things being equal (1 mk)
11. Visible trade matches with (ii) The import and export of intangible items (This is incorrect, Visible trade is import/export of tangible items. Invisible trade matches (ii). Assuming there's an error in the question's intended match for F) (1 mk)
12. In management whereby one employee is answerable to one supervisor only (1 mk)
13. Invisible trade matches with (ii) The import and export of intangible items (1 mk)
14. The quantity of a certain supply that should always be in stock to safeguard sales against unforeseen delays in delivery (1 mk)
15. Unity of objectives matches with (iii) The process whereby the demand for the products of a business enterprise is created (This is a weak match. Unity of objectives is more about shared goals) (1 mk)
16. Enables those with small incomes to be reached (1 mk)
17. Refers mainly to insurance of ships and goods in ships (1 mk)
18. Standing order matches with (x) Is an instruction to a bank to pay a specified sum of money to a named person at regular interval (1 mk)
19. Is an instruction to a bank to pay a specified sum of money to a named person at regular interval (1 mk)
20. Risk matches with (iv) An event against which an insurance policy is taken out. (1 mk)

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K. Buta had an opening stock of Shs. 20,000/= and a closing stock of Shs. 25,000/=. His net purchases for the year amounted to Shs. and a 40% mark up is applied. His expense for the year was Shs. 28,600/=. Find the: (a) cost price (b) gross profit (c) turn over (d) net profit

1. Calculate the cost price. (2 mk)
2. Calculate the gross profit. (3 mk)
3. Calculate the turn over. (3 mk)
4. Calculate the net profit. (2 mk)

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Anita and Beatrice were travelling from Iringa to Dar es Salaam using Beatrice's car which is insured. When they reached Kibaha their car was involved in an accident and it was badly damaged. Anita decided to go to the National Insurance Company to ask for compensation. The company didn't agree to give compensation for the car. (a) Why did the company refuse to compensate Anita's claim? (b) Which principle of insurance was applied by the company?

1. Why did the company refuse to compensate Anita's claim? (2 mk)
2. Which principle of insurance was applied by the company? (2 mk)

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The price of commodity "x" changed from Shs. 6/= to Shs. 7/=, resulting in a change of the quantity supplied from 200kg to 250kg. (a) Calculate elasticity of supply. (b) Is the supply elastic, equal to unit, or inelastic? (c) What does your answer in 5 (b) imply?

1. Calculate elasticity of supply. (3 mk)
2. Is the supply elastic, equal to unit, or inelastic? (1 mk)
3. What does your answer in 5 (b) imply? (2 mk)

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(a) Define tax. (b) The following are data from Income Tax Department: Individual income: 30,000 45,000 50,000 60,000 30,000 50,000 Tax payable: 4,500 6,750 7,500 9,000 4,500 7,500 (i) Calculate the % rate of tax. (ii) Illustrate by graph and identify the system of taxation used.

1. Define tax. (2 mk)
2. Calculate the % rate of tax. (3 mk)
3. Illustrate by graph and identify the system of taxation used. (5 mk)

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(a) Define money. (b) State four (4) functions of money.

1. Define money. (2 mk)
2. State four (4) functions of money. (4 mk)

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Outline five (5) advantages and five (5) disadvantages of air transport.

1. Outline five (5) advantages of air transport. (5 mk)
2. Outline five (5) disadvantages of air transport. (5 mk)

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Describe five (5) basic principles of a good tax system.

1. Describe the principle of equity/fairness. (2 mk)
2. Describe the principle of certainty. (2 mk)
3. Describe the principle of convenience. (2 mk)
4. Describe the principle of economy. (2 mk)
5. Describe the principle of efficiency/productivity. (2 mk)

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Why does a country decide to regulate or restrict the volume of foreign trade? Give five (5) reasons.

1. Reason 1 for regulating foreign trade. (2 mk)
2. Reason 2 for regulating foreign trade. (2 mk)
3. Reason 3 for regulating foreign trade. (2 mk)
4. Reason 4 for regulating foreign trade. (2 mk)
5. Reason 5 for regulating foreign trade. (2 mk)

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