Download and practise with this ZIMSEC O-Level Commerce Paper 1 June 2023 question paper. Useful for exam revision, past paper practice, and preparation in Zimbabwe.
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This is the ZIMSEC O-Level Commerce question paper for Paper 1 from June 2023. Use it for exam practice under timed conditions. Time allowed: 1 hour 15 minutes.
# ZIMBABWE SCHOOL EXAMINATIONS COUNCIL <br> General Certificate of Education Ordinary Level **COMMERCE** **PAPER 1 Multiple Choice** 4049/01 **JUNE 2023 SESSION** 1 hour 15 minutes Additional materials: Multiple Choice answer sheet Soft clean eraser Soft pencil (type B or HB is recommended) TIME 1 hour 15 minutes ### INSTRUCTIONS TO CANDIDATES Do not open this booklet until you are told to do so. Write your name, Centre number and candidate number on the answer sheet in the spaces provided unless this has already been done for you. There are forty questions in this paper. Answer all questions. For each question, there are four possible answers, A, B, C and D. Choose the one you consider correct and record your choice in soft pencil on the separate answer sheet provided. Read very carefully the instructions on the answer sheet. ### INFORMATION FOR CANDIDATES Each correct answer will score one mark. A mark will not be deducted for a wrong answer. Any rough working should be done in this booklet. This question paper consists of 12 printed pages. Copyright: Zimbabwe School Examinations Council, J2023. ## Question 1 A system where a few individuals own the means of production is A capitalism. B communism. C feudalism. D socialism. ## Question 2 Removing impurities from raw materials is A beneficiation. B production. C specialisation. D value addition. ## Question 3 Specialisation is A breaking down a production process. B concentrating on producing a particular product. C providing goods and services. D separating work into simple tasks. ## Question 4 Value addition is described as A changing the nature of materials. B increasing the value of commodities. C reducing the value of commodities. D removing impurities from raw materials. ## Question 5 Which is a feature of a small scale retailer? A has large capital B has many branches C has few legal formalities D serves large dispersed markets ## Question 6 The difference between home trade and foreign trade is that Home trade A involves long distances B involves many middlemen C involves many risks D involves fewer trade barriers Foreign trade involves short distances involves few middlemen involves few risks involves many trade barriers The information below relates to foreign trade figures for country X. Use the information to answer Questions 7 and 8. Exported goods Imported goods Receipts from tourists $ millions 800 500 250 100 Payment for use of foreign transport ## Question 7 What is the balance of Trade (B.O.T) for country X? A - \($300\) million B +\($300\) million C +\($350\) million D +\($1300\) million ## Question 8 What is the Balance of Payments (B.O.P) for country X? A +\($300\) million B +\($450\) million C +\($550\) million D +\($600\) million ## Question 9 The Zimbabwe Revenue Authority performs the following functions except A checking passports. B enforcing quotas. C collecting import duties. D supervising bonded warehouse. ## Question 10 Which product is sold through commodity markets? A book B cellphone C rubber D tomatoes ## Question 11 The right to redress ensures that consumers A are accorded a fair settlement of just claims. B are protected from environmental hazards. C are protected against goods that are dangerous to their health. D have access to different types of goods and services. ## Question 12 Which Act ensures that goods are fit for the purpose for which they are sold? A Food and Drinks Act. B Food and Drugs Act. C Merchandise Marks Act. D Sale of Goods Act. ## Question 13 A seal of approval certifies that goods A are correctly labelled. B are correctly weighed. C have passed a quality test. D have been produced in a factory. ## Question 14 Which is an advantage of multinational corporation? A brings obsolete technology B creates employment opportunities C competes with infant industries D repatriates profits to its country ## Question 15 Which of the following documents certifies that a company has complied with the Companies Act? A Articles of Association. B Certificate of Incorporation. C Certification of trading. D Memorandum of Association. ## Question 16 Why is the government encouraging the development of Small to Medium Enterprises (SMEs)? A to gain political mileage B to reduce employment opportunities C to bring variety of goods D to reduce on industrial expansion ## Question 17 The role of public sector business organisation is A to control strategic industries. B to earn income for individuals. C to make profit at all cost. D to control all sectors of the economy. ## Question 18 An element of business ethics which requires an organisation to be reliable is A fairness. B honest. C integrity. D morale. ## Question 19 Plagiarism is an infringement of A commercial law. B copyright law. C intellectual law. D merchantile law. ## Question 20 Which characteristic best describes a business person who invents new products? A hard worker. B innovative. C passionate. D resourcefulness. ## Question 21 The importance of a business plan is to assist in A promoting creativity in business B luring customers into business. C securing funding at start-up phase. D venturing in business for the first time. ## Question 22 What type of personal investment allows the investor to own part of a business? A bonds B dividends C commission D shares ## Question 23 A function of money which allows buying of goods on credit and paying for them later is A measure of value. B medium of exchange. C store of wealth. D standard for deferred payment. ## Question 24 A source of income for an agent is A a commission. B an interest. C a profit. D a salary. ## Question 25 The sale of insurance policies online is A electronic mailing. B electronic commerce. C electronic assurance. D electronic insurance. ## Question 26 Which insurance policy is compulsory under Road Traffic Act? A …