(a) The chart above gives the main divisions of Commerce, complete the chart by filling in the blank spaces labeled (i) to (viii).

 (b) Explain the following, give one example of each:

(i) Primary production (ii) Secondary production (iii) Tertiary production. 

 (a) Explain the following:

(i) limited liability (ii) separate legal entity  (iii) ceritficate of incorporation (iv) participating preference shares (v) ordinary shares. 

(b) State five advantages of public corporation. 
 

(a) What is channel of distribution?

(b) With the aid of diagrams, show four examples of channel of distribution.

(c) Explain five advantages of home trade over foreign trade. 

(a) What is credit?

(b) List and explain six principles of insurance. 
 

(a) Explain five factors affecting the choice of transport of frozen products.

(b) State five disadvantages of air transport.