Tag: o level commerce question and answers

Warehousing is the action or process of storing goods in a warehouse and a warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc.

Advertising is a marketing communication that is meant to promote or sell a product, service or idea.

Communication is the imparting or exchanging of information by speaking, writing, or using some other medium. This exchange of information is very important in commerce and business.

Transport  moves/ferries/carries/transports/transfers/takes/carts  people  (workers, executives, buyers, sellers) and goods from one place to another.

Insurance is a form of risk management used to hedge against the risk of an uncertain or unforeseen loss.

Countries differ in their demand for goods and services and in their ability to produce them.  Further, factors of production are unevenly distributed globally. Hence countries import and export goods and services to meet their needs.

Money is anything that is generally acceptable in the exchange of goods and services. Forms of money include: notes and coins - only these two forms are legal tender; cheques; coupons; gift vouchers

Capital comprises of the plant and equipment, raw materials, work in progress, stocks, debts owing and any investments made.