LHAMEWERA 56 ms, ZIMBABWE SCHOOL EXAMINATIONS COUNCIL General Certificate of Education Ordinary Level COMMERCE 7103/2 PAPER 2 JUNE 2012 SESSION 2 hours Additional materials: ‘Answer paper TIME 2 hours INSTRUCTIONS TO CANDIDATES Write your name, Centre number and candidate number in the spaces provided on the answer Paper/answer booklet. Answer any four questions. Write your answers on the separate answer paper provided. Ifyou use more than one sheet of paper, fasten the sheets together. INFORMATION FOR CANDIDATES ‘The number of marks is given in brackets [ ] at the end of cach question or part question. This question paper consists of 3 printed pages and 1 blank page. Copyright: Zimbabwe School Examinations Council, 12012, @ZMSEC 12012 [Turn over ey[a (@) b) @) ) @ ) © @) (b) © (@) & 4 aa ha = \ CTY A 2 Explain the following: (@ secondary production, [5] (ii) tertiary production, 5] Describe the importance of banking to a farmer. [10] What measures can be taken by a trader to avoid the risk of failure in business? (10) Distinguish between hire purchase and credit sales. (10) State the reasons for establishing marketing boards for primary products. [6] What is an advice note? 6] Outline eight features of a cooperative wholesale society. [8] Below are foreign trade figures for country X for the year ending 31 December 2010. $ million Goods bought from other countries 500 Goods sold to other countries 400 Tourists from country X to other countries 200 Tourists to country X 100 ‘Transport services provided to foreign companies 40 Shipping services provided to companies in country X 20 Calculate, showing all working; () invisible trade balance, (2) (ii) balance of trade, 2 (ii) balance of payments. 2 Explain the methods that are used to correct a balance of payments deficit. [6] What is a bill of exchange? {8} With reference to private limited companies, explain the following terms: @ private; 2] ii) limited. 22] ‘Tosa no.’ 3 (b) List six disadvantages of multinational companies, (6) (©) Give the differences between sharcholders and debenture holders. [10] © (a) _—_ Whatis telebanking? 4] (b) State and explain any four functions of money. [3] 2 (©) Under what circumstances might a cheque be dishonoured? [3] 1 Describe the following communication services: (a) confravision, 6) (b) — datel, 5] (©) facsimile (fax), LI (a) private bags. 6) 8 (a) _ State any four disadvantages of owning a fleet of vehicles. (4) (b) Explain the differences between liners and tramps. 13] (©) Describe the functions of seaport authorities. 3] 9 (a) Whatis a Code of Advertising Practice? (5) €, (b) How-dbes the Standards Association of Zimbabwe protect consumers? {7] (©) List any eight disadvantages of advertising to consumers. 13] ‘roa ror