A tax system where the rich pay a higher percentage of their income than the poor is called:
A.Regressive tax
B.Indirect tax
C.Progressive tax
D.Ad-valorem tax
Sehemu B
2.9 alamas
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.
LIST A
(i) The ability of goods to satisfy human wants
(ii) A document used to facilitate credit in international trade
(iii) A shop that sells products of one manufacturer only
(iv) The rate at which stock is sold and replaced in a business
(v) A place where imported goods are stored until duties are paid
(vi) Producing goods for personal use rather than for sale
(vii) A tax imposed on the value of goods at each stage of production
(viii) A principle of taxation ensuring fairness in tax burden
(ix) A leadership style where few people are involved in decision-making
LIST B
A. Bill of exchange
B. Utility
C. Stock turnover
D. Tied shop
E. Direct production
F. Bonded warehouse
G. Value Added Tax (VAT)
H. Equity
I. Autocratic
(i)
The ability of goods to satisfy human wants
1 alama
(ii)
A document used to facilitate credit in international trade
1 alama
(iii)
A shop that sells products of one manufacturer only
1 alama
(iv)
The rate at which stock is sold and replaced in a business
1 alama
(v)
A place where imported goods are stored until duties are paid
1 alama
(vi)
Producing goods for personal use rather than for sale
1 alama
(vii)
A tax imposed on the value of goods at each stage of production
1 alama
((viii)
A principle of taxation ensuring fairness in tax burden
1 alama
(ix)
A leadership style where few people are involved in decision-making
1 alama
(x)
The process of selling goods to the final consumer
1 alama
Boresha ili kuona majibu ya mfano.
3.10 alamas
Write short notes on the following:
(a)
Home trade
2 alama
(a)
Home trade
2 alama
(b)
Stock-in-trade
2 alama
(b)
Stock-in-trade
2 alama
(c)
Letter of credit
2 alama
(c)
Letter of credit
2 alama
(d)
Direct services
2 alama
(d)
Direct services
2 alama
(e)
Dumping
2 alama
(e)
Dumping
2 alama
Boresha ili kuona majibu ya mfano.
4.4 alamas
Differentiate between the following:
(a)
A credit note and a debit note
2 alama
(a)
A credit note and a debit note
5 alama
(b)
A cooperative organization and a partnership
5 alama
(b)
A cooperative organization and a partnership
2 alama
Boresha ili kuona majibu ya mfano.
5.6 alamas
The price of a commodity changed from Shs. 50 per kg to Shs. 60 per kg, resulting in a change in quantity demanded from 500 kg to 400 kg.
(a)
Calculate the price elasticity of demand.
3 alama
(a)
Calculate the price elasticity of demand.
3 alama
(b)
Is the demand elastic, unitary, or inelastic?
2 alama
(b)
Is the demand elastic, unitary, or inelastic?
1 alama
(c)
What does your answer in (b) imply about the commodity?
2 alama
(c)
What does your answer in (b) imply about the commodity?
2 alama
Boresha ili kuona majibu ya mfano.
6.10 alamas
Mwajuma had an opening stock of Shs. 30,000 and a closing stock of Shs. 40,000. Her net purchases for the year were Shs. 120,000, and her gross profit margin was 25% on sales. Her expenses for the year were Shs. 15,000. Calculate:
(a)
Cost of goods sold
3 alama
(a)
Cost of goods sold
3 alama
(b)
Gross profit
3 alama
(b)
Gross profit
3 alama
(c)
Net profit
3 alama
(c)
Net profit
4 alama
Boresha ili kuona majibu ya mfano.
Sehemu C
7.15 alamas
Answer two (2) questions from this section.
(a)
Define international trade.
3 alama
(a)
Define international trade.
3 alama
(b)
Explain four advantages and four disadvantages of international trade for a country like Tanzania.
12 alama
(b)
Explain four advantages and four disadvantages of international trade for a country like Tanzania.
12 alama
Boresha ili kuona majibu ya mfano.
8.15 alamas
Answer two (2) questions from this section.
(a)
What is a market survey?
3 alama
(a)
What is a market survey?
5 alama
(b)
Outline five types of information a retailer can obtain from a market survey to improve their business.
10 alama
(b)
Outline five types of information a retailer can obtain from a market survey to improve their business.
12 alama
Boresha ili kuona majibu ya mfano.
9.15 alamas
Answer two (2) questions from this section.
(a)
Define a cheque.
3 alama
(b)
Explain five circumstances under which a cheque may be dishonoured by a bank.
12 alama
Boresha ili kuona majibu ya mfano.
10.15 alamas
Answer two (2) questions from this section.
(a)
What are the principles of taxation?
3 alama
(b)
Explain why a progressive tax system is considered more equitable than a regressive tax system.
12 alama