Commerce Past Questions and Answers

(a) Who is a common carrier?
(b) State three functions of each of the following communication agents:
(i) Post Office.
(ii) Telecommunication.
(iii) Courier companies.

(a) What is turnover?
(b) The following information relates to Mrs. Lulu, a trader.

Goods	selling price N	cost priceN	selling expensesN
BucketsBoxesBournvitaLace material	4,0005,0006,00012,000	3,5004,0005,50010,500	4002503001,000

(i) Calculate the gross profit percentage on each item. (ii) Calculate the net profit on each item.

(a) Explain seven functions of a commercial bank.
(b) Explain three types of accounts that are operated in a commercial bank.

(a) Define marketing mix
(b) Explain the term marketing concept.
(c) List and describe the four elements of marketing mix.

(a) List four types each of:
(i) Small scale retailers.
(ii) Large scale retailers.
(b) Explain four reasons why small scale retailers survive despite the dominance of large scale retail outlets.