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FTNA 🇹🇿 NECTA ✓ Official NECTA answers

Commerce · Paper 2 · 2002

26 questions

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Questions (26)

Section A

1. 1 mark

The following are factors of production except:

A. economics
B. commerce
C. industry
D. specialization
2. 10 marks

Choose the correct term from List B which matches with the explanation in List A, then write the letter below the number of the relevant explanation in the table provided.

(i) Payment for use of capital 1 mk
(ii) Exchange without money 1 mk
(iii) Buying goods abroad 1 mk
(iv) Selling goods abroad 1 mk
(v) Storage of imported goods before duty payment 1 mk
(vi) Buying goods in bulk 1 mk
(vii) Selling goods in small quantities 1 mk
((viii) Risk bearer in business 1 mk
(ix) Promotion of sales 1 mk
(x) Price paid for land 1 mk

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3. 10 marks

Complete each of the following statements by filling in the blanks with correct word(s)

(i) The total revenue minus total cost gives ................................................... 1 mk
(ii) Goods from abroad are ........................................................................... 1 mk
(iii) The path goods follow from producer to consumer is .......................... 1 mk
(iv) The reward for labour is ....................................................................... 1 mk
(v) Selling goods at reduced price is ......................................................... 1 mk
(vi) Goods for final consumption are ....................................................... 1 mk
(vii) The ability to satisfy wants is ........................................................... 1 mk
((viii) Trade within the country is ............................................................. 1 mk
(ix) Goods stored awaiting sale are ........................................................ 1 mk
(x) The organizer of production is .......................................................... 1 mk

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Section B

4. 10 marks

Briefly explain

(a) Division of labour 2 mk
(b) Supply 2 mk
(c) Mobile trader 2 mk
(d) Consumer 2 mk
(e) Discount 2 mk

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5. 0 marks

State five functions of retailers.

(none) State five functions of retailers. 5 mk

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Section C

6. 40 marks

The following information relates to Mlimani Stores. Opening stock Tshs 48,000 Purchases Tshs 212,000 Closing stock Tshs 52,000 (a) Calculate cost of goods sold. (b) Calculate average stock. (c) Determine the rate of stock turn.

(a) Calculate cost of goods sold. 10 mk
(b) Calculate average stock. 10 mk
(c) Determine the rate of stock turn. 20 mk

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7. 40 marks

Explain five causes of increase in demand.

(none) Explain five causes of increase in demand. 40 mk

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