First Term Mid Term Test Commerce SS 1 First Term Lesson Notes Week 7

Commerce SS1 First Term Lesson Note – Week 7

Subject: Commerce
Class: SS1
Term: First Term
Week: 7
Age: 14 – 16 years
Duration: 40 minutes
Topic: Mid-Term Assessment and Break

Behavioral Objectives

By the end of this assessment, students should be able to:

1. Demonstrate understanding of key concepts covered in the first half of the term.
2. Apply knowledge of commerce topics to answer objective, theoretical, true/false, and fill-in-the-blank questions.

Assessment Overview

Part A: Objective Questions
20 fill-in-the-blank questions with multiple-choice options (a, b, c, or d).

Part B: Theory Questions
20 short answer questions based on the topics covered.

Part C: True or False Questions
20 statements for students to identify as true or false.

Part D: Fill in the Gaps Questions
20 fill-in-the-blank questions without options.

Part A: Objective Questions

1. Home trade refers to buying and selling goods within __________.
   a) a country
   b) a continent
   c) the world
   d) a city
2. Retail trade sells goods directly to __________.
   a) wholesalers
   b) manufacturers
   c) consumers
   d) distributors
3. One characteristic of retail trade is that it involves selling in __________ quantities.
   a) bulk
   b) large
   c) medium
   d) small
4. The main function of retail trade is to __________ goods to consumers.
   a) manufacture
   b) import
   c) distribute
   d) export
5. A small-scale retailer that operates from a vehicle is known as a __________ shop.
   a) stationary
   b) mobile
   c) fixed
   d) permanent
6. Market research helps businesses understand __________ preferences.
   a) employee
   b) consumer
   c) producer
   d) investor
7. One factor to consider when starting a retail business is __________.
   a) legal requirements
   b) personal preferences
   c) government policies
   d) personal opinions
8. Kiosks are usually found in __________ places.
   a) remote
   b) isolated
   c) public
   d) private
9. Retailers provide __________ to enhance the shopping experience.
   a) discounts
   b) advertisements
   c) customer service
   d) information
10. An example of a type of trade is __________ trade.
    a) local
    b) home
    c) factory
    d) wholesale
11. The barter system involves __________ goods for other goods.
    a) exchanging
    b) selling
    c) producing
    d) donating
12. E-commerce refers to __________ conducted online.
    a) banking
    b) trade
    c) education
    d) farming
13. Factors affecting the growth of commerce include __________.
    a) technology
    b) weather
    c) sports
    d) fashion
14. One advantage of small-scale retailing is its __________ in operations.
    a) complexity
    b) rigidity
    c) flexibility
    d) difficulty
15. A type of retail trade that sells products through online platforms is __________.
    a) direct selling
    b) e-commerce
    c) wholesale
    d) mobile
16. Characteristics of home trade include __________.
    a) international transactions
    b) local transactions
    c) bulk buying
    d) importing
17. Customer service is crucial in __________ trade.
    a) wholesale
    b) retail
    c) foreign
    d) barter
18. The extractive industry is part of the __________ production classification.
    a) primary
    b) secondary
    c) tertiary
    d) retail
19. Online retailers can reach a __________ audience.
    a) local
    b) limited
    c) global
    d) specific
20. One of the characteristics of retail trade is the variety of __________ offered.
    a) services
    b) customers
    c) products
    d) locations

Part B: Theory Questions

1. Define home trade and explain its significance in the economy.
2. What is the difference between retail and wholesale trade?
3. List and describe the characteristics of retail trade.
4. Explain the functions of retail trade.
5. Discuss the importance of market research in setting up a retail business.
6. Identify and explain three factors to consider when choosing a location for a retail business.
7. Describe the role of small-scale retailers in the economy.
8. What are mobile shops, and how do they operate?
9. Explain the advantages and challenges of small-scale retailing.
10. What legal requirements must be fulfilled to start a retail business?
11. How does inventory management impact a retail business?
12. Discuss the effects of e-commerce on traditional retail trade.
13. Identify different types of small-scale retailers and provide examples of each.
14. How can retailers effectively market their products?
15. What challenges do street vendors face in their business?
16. Explain the significance of customer service in retail trade.
17. Discuss how technology affects the retail industry.
18. What are the implications of the barter system for modern commerce?
19. Explain the role of advertising in retail trade.
20. How do social and cultural factors influence consumer behavior in retail?

Part C: True or False Questions

1. Home trade involves international transactions. (True / False)
2. Retail trade sells goods directly to consumers. (True / False)
3. Market research is unnecessary for setting up a retail business. (True / False)
4. Mobile shops can operate in various locations. (True / False)
5. Kiosks are large retail establishments. (True / False)
6. One advantage of small-scale retailing is its high startup cost. (True / False)
7. E-commerce has no impact on traditional retail. (True / False)
8. Customer service is essential in retail trade. (True / False)
9. The barter system relies on currency exchange. (True / False)
10. Factors affecting commerce growth include technology. (True / False)
11. Retailers do not need to consider legal requirements. (True / False)
12. Primary production involves manufacturing goods. (True / False)
13. Tertiary production includes services. (True / False)
14. Flexibility is a disadvantage of small-scale retailing. (True / False)
15. Online retailers can reach a local audience only. (True / False)
16. Inventory management is not important for retailers. (True / False)
17. Characteristics of retail trade include selling in bulk. (True / False)
18. Retail trade does not involve customer interactions. (True / False)
19. Street vendors are a type of small-scale retailer. (True / False)
20. Advertising is irrelevant in retail trade. (True / False)

Part D: Fill in the Gaps Questions

1. Home trade refers to the buying and selling of goods within __________.
2. Retail trade directly sells to __________.
3. One characteristic of retail trade is that it sells in __________ quantities.
4. The primary function of retail trade is to __________ goods to consumers.
5. A __________ shop operates from a vehicle.
6. Market research helps identify __________ needs.
7. A key factor in retail is choosing the right __________.
8. Kiosks are typically located in __________ areas.
9. Retailers provide __________ to enhance shopping experiences.
10. The barter system involves exchanging __________ for goods.
11. E-commerce is trade conducted __________.
12. Factors affecting commerce include advancements in __________.
13. An advantage of small-scale retail is its __________.
14. Online retailers can reach a __________ market.
15. Characteristics of home trade include being __________ based.
16. Customer service is crucial in __________ trade.
17. Extractive industries belong to the __________ production category.
18. Street vendors sell goods from __________.
19. Small-scale retailers can provide __________ service.
20. The __________ system was an early form of trade before currency.

This comprehensive mid-term assessment evaluates students’ understanding of key concepts covered in the first half of the term, reinforcing their knowledge in commerce.