1. Commerce Paper 1 (4CM1/01), total 80 marks, three sections (A, B, C), calculator allowed; topics include retail operations, insurance, international trade, ecommerce, ownership models. 2. Core definitions: loss leader, utmost good faith, multinational corporation, cover note, insurance endorsement; calculations on currency conversion, percentage discount, insurance premiums. 3. Case studies: Kazuri (Kenyan exports), Bangla Toys (faulty goods impact), SLS (Sri Lanka safaris, high costs, local sourcing, bad debt risk, online booking), Next (online sales, discounts, insurance). 4. Key operations: advantages of after-sales service, department stores, packaging, wholesaler advice, online platform expansion, hotel desk vs. website upgrade. 5. Risk management focus: reducing bad debts, insurance policy adjustments, premium sharing, public liability concerns, claim assessments. 6. Strategic decisions: sole trader vs partnership (Rackel), ecommerce vs physical desks (SLS), price reductions for stock clearance (Next), survival strategies for independent retailers.