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. LIST A LIST B (i) Selling goods abroad A. Advertising (ii) Buying goods in bulk B. Retail trade (iii) Storage facility C. Transportation (iv) Payment for labour D. Wholesaler (v) Exchange without money E. Barter trade (vi) Selling to final consumers F. Wage (vii) Movement of goods G. Warehouse (viii) Promotion of goods H. Export trade (ix) Risk taker I. Entrepreneur (x) Stock valuation J. Stock taking K. Rent L. Interest M. Commerce N. Broker O. Import trade

1. Selling goods abroad (1 mk)
2. Selling goods abroad (1 mk)
3. Buying goods in bulk (1 mk)
4. Buying goods in bulk (1 mk)
5. Storage facility (1 mk)
6. Storage facility (1 mk)
7. Payment for labour (1 mk)
8. Payment for labour (1 mk)
9. Exchange without money (1 mk)
10. Exchange without money (1 mk)
11. Selling to final consumers (1 mk)
12. Selling to final consumers (1 mk)
13. Movement of goods (1 mk)
14. Movement of goods (1 mk)
15. Promotion of goods (1 mk)
16. Promotion of goods (1 mk)
17. Risk taker (1 mk)
18. Risk taker (1 mk)
19. Stock valuation (1 mk)
20. Stock valuation (1 mk)

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Complete each of the following statements by filling in the blanks with correct word(s) (i) Goods used in production are __________ (ii) Payment made after delivery is __________ (iii) The science of wealth is __________ (iv) Goods exchanged directly are __________ (v) The reward for risk is __________ (vi) Trade within borders is __________ (vii) A trader moving from place to place is __________ (viii) The stock held to avoid shortage is __________ (ix) The selling price less cost price is __________ (x) The process of creating goods is __________

1. Goods used in production are __________ (1 mk)
2. Goods used in production are (1 mk)
3. Payment made after delivery is (1 mk)
4. Payment made after delivery is __________ (1 mk)
5. The science of wealth is (1 mk)
6. The science of wealth is __________ (1 mk)
7. Goods exchanged directly are (1 mk)
8. Goods exchanged directly are __________ (1 mk)
9. The reward for risk is (1 mk)
10. The reward for risk is __________ (1 mk)
11. Trade within borders is __________ (1 mk)
12. Trade within borders is (1 mk)
13. A trader moving from place to place is (1 mk)
14. A trader moving from place to place is __________ (1 mk)
15. The stock held to avoid shortage is __________ (1 mk)
16. The stock held to avoid shortage is (1 mk)
17. The selling price less cost price is __________ (1 mk)
18. The selling price less cost price is (1 mk)
19. The process of creating goods is (1 mk)
20. The process of creating goods is __________ (1 mk)

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Commerce facilitates

A tied shop sells goods of

A decrease in supply curve shifts it

The reward for land is

Goods which last long are

A document acknowledging receipt of cash is

Trade beyond national borders is

A person acting on behalf of another is

The cost that changes with output is

The meeting of buyers and sellers determines

Write short notes on (a) Stock turn (b) Consumer needs (c) Bonded warehouse (d) Advertising (e) Profit

1. Stock turn (2 mk)
2. Stock turn (3 mk)
3. Consumer needs (3 mk)
4. Consumer needs (2 mk)
5. Bonded warehouse (3 mk)
6. Bonded warehouse (2 mk)
7. Advertising (2 mk)
8. Advertising (3 mk)
9. Profit (3 mk)
10. Profit (2 mk)

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Explain five disadvantages of specialization.

1. Explain five disadvantages of specialization. (10 mk)

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A trader buys sugar at Tshs 2,000 per kg and sells it at Tshs 2,600 per kg. His monthly sales are 500 kg and monthly expenses are Tshs 120,000. (a) Calculate total revenue. (b) Calculate total cost. (c) Determine net profit.

1. Calculate total revenue. (5 mk)
2. Calculate total cost. (5 mk)
3. Determine net profit. (5 mk)

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Discuss five roles of commerce in economic development.

1. Discuss five roles of commerce in economic development. (25 mk)

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