Commerce Objective
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7a
(i)they have the right to choose between
alternatives
(ii)consumers have the right to good things of
life
(iii)they have the right to safety
(iv)the consumers also have the right to be
heard
(v)they have right to be informed
(7b)
(i)formation of consumer associations to test
whether items are of good quality or not and to
make recommedations
(ii)price control measures should be put in place
to curb any arbitrary price increases.
(iii)Formation of standard board or quality of
every item before allowing its introduction to
the market
(iv)there should be an efficient hire purchase
act to prevent repossession after 2/3 payment of
the purchasing price.
(v)Advertising organisation/board should be
setup to censor all adverts before shown on the
screens.
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(8)
-pricing
-transportation
-storage
-exchange
-financing
(i)pricing:marketing,assisting in fixing price at
a level reasonable enogh to give profit to the
company.
(ii)transportation:this covers involvement of
goods from where they are produced to the
point where they are required.
(iii)storage:this make it possible for goods to be
produced ahead of demand so that they can be
available when needed
(iv)exchange:this cover the purchase of raw
materials and goods from so may sources and
transfer of ownership of such
(v)financing:this cover the provision of funds
throughtout the period of production to the
point of selling through loans and credit
facilities
1-Span of control :can simply be defined as the
area of activity and number of functions,
people, or things for which an individual or
organization is responsible.
1b)
Organizational size.
Workforce skill level.
Organizational culture.
Manager’s responsibilities.
Some key factors to review when determining
the appropriate span of control within an
organization include the following:
Organizational size. :
Large organizations tend have a narrow span of
control, whereas smaller organizations often
have a wider span of control. This difference is
usually due to the costs involved with more
managers and the financial resources available
to an organization. Communication may be
slower with narrow spans if it must pass
through several of management.
Workforce skill level.:
The complexity or simplicity of the tasks
performed by the employees will affect the
number of desirable direct reports. Generally,
routine tasks involving repetition will require
less supervisory control of a manager, allowing
a wider span of control, whereas complex tasks
or dynamic workplace conditions may be best
suited for a narrower span of control, where
managers can provide more individualized
attention.
Organizational culture.: Organizations need to
determine the desired culture when designing
their span of control. Flexible workplaces
usually have a wider span of control because
employees are given more autonomy and
flexibility in the production of their work.
Manager’s responsibilities.: Review whether the
organizational expectations allow the managers
to be effective with the number of direct reports
they have, especially related to individual
responsibilities, departmental planning and
training. For instance, executives often have
fewer direct reports than other managers in the
organization.
(i) Credit instruments replace
metallic money to some extent. This
means a great economy.
Expenditure is avoided on precious
metals for monetary purposes.
Also, there is no loss arising from
wear and tear of coins.
(ii) Trade and industry are
financed mostly by the aid of
credit. No industrial or commercial
progress would be possible if the
business were to be conducted
strictly on a cash basis. In the
absence of credit, trade would be
on a very restricted scale.
(iii) Credit makes capital more
productive. It is through credit that
capital is transferred from persons
who cannot use it themselves to
persons who are in a position to do
so. Without credit facilities, a good
deal of capital would have
remained unused.
(iv) Credit enables banks to lend far
beyond their cash reserves. Thus
they are able to make profits for
themselves besides helping trade
and industry. The banks can in this
way ‘create money’.
4b)
(i) Credit instruments replace
metallic money to some extent. This
means a great economy.
Expenditure is avoided on precious
metals for monetary purposes.
Also, there is no loss arising from
wear and tear of coins.
(ii) Trade and industry are
financed mostly by the aid of
credit. No industrial or commercial
progress would be possible if the
business were to be conducted
strictly on a cash basis. In the
absence of credit, trade would be
on a very restricted scale.
(iii) Credit makes capital more
productive. It is through credit that
capital is transferred from persons
who cannot use it themselves to
persons who are in a position to do
so. Without credit facilities, a good
deal of capital would have
remained unused.
(iv) Credit enables banks to lend far
beyond their cash reserves. Thus
they are able to make profits for
themselves besides helping trade
and industry. The banks can in this
way ‘create money’.
3a)
i)Trading
ii)Banking
iii)Transportation
iv)Warehousing
v)Communication
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