Commerce

Scheme of work for Commerce, SS1, Second Term

Alfred Ajibola - Tue, 27th August, 2019 @ 17:15: PM

Topics in Commerce

Scheme of Work for Commerce, SS1, First Term Scheme of work for Commerce, SS1, Second Term Scheme of work for Commerce, SS1, Third Term Division of Labour and the Conditions necessary for it Forms, Advantages and Disadvantages of Division of Labour Balance of Trade and Balance of Payments Meaning and Types of Production Deferred payment and its benefits Commodity market explained Marketing Explained



Academic Questions in Commerce

Please check out our Test Your Knowledge page to see all Questions and Answers

What does a bearer cheque mean?

What is an order cheque?

Scheme of Work for Commerce, SS1, 2nd Term:

 

WEEK 1

Topic: WHOLESALE TRADE

  • Meaning and functions to the:
    a. Manufacturer
    b. Retailer
  • Differences between Wholesaler and Retailer
  • Channels of Distribution
  • Factors to be considered before choosing a particular Channel of Distribution

 

WEEK 2

Topic: MIDDLE MEN

  • Meaning, elimination and survival of the middlemen
  • Criticism/reasons that may warrant the elimination of middlemen
  • Types of wholesalers:
    - Merchant wholesaler; Functions and Types
  • Agent Middlemen; Types, Brokers, Manufacturers, Agent and Aunctioneers
  • Commission Agent, Delcredere Agent

 

WEEK 3

Topic: WARE HOUSING

  • Warehousing: Meaning and Importance
  • Types of warehousing, Bonded warehousing
  • State/Queen’s warehousing
  • Public Warehousing
  • Manufacturer’s Warehousing.

 

WEEK 4

Topic: FOREIGN TRADE

  • Meaning and types (Bilateral and Multilateral)
  • Advantages and Disadvantages of Foreign Trade
  • State Barriers to Foreign Trade
  • Differentiate between Export, Import and Entrepot
  • Procedures for Foreign Trade

 

WEEK 5

Topic: BALANCE OF TRADE AND BALANCE OF PAYMENT

  • Distinguish between Balance of Trade and Balance of Payment
  • Reasons for Imposing Tariffs/Restrictions in Foreign Trade

 

WEEK 6

Topic: DOCUMENTS USED IN FOREIGN TRADE

  • Mail transfer, Documentary Credit, Letter of Hypothecation
  • Foreign Bill of Exchange, Travelers Cheque, Telegraphic Transfer, etc
  • Custom and Exercise Functions
  • Nigerian Export Promotion Council

 

WEEK 7

Topic: NIGERIAN AIRPORT AUTHORITY

  • Nigerian Airport Authority and Nigerian Ports authority (NPA)
  • Nigerian Export Authority
  • Commodity exchange: Meaning, Types of Tradeable Commodities, Agricultural produce, Solid minerals, Oil and Gas. (List commodities and classify)
  • Requirements for trading, Grading system, Warehousing, Clearing system, Standardizing.

 

WEEK 8

Topic: COMMODITY EXCHANGE

  • Types (spot, forward features)
  • Method of Trading: Open, Outcry, Electronic
  • Benefits of Commodity Exchange:
  1. Increase in agricultural production
  2. Stabilization in agricultural product pricing.
  3. Encourage exploration of solid minerals
  4. Foreign exchange earnings
  5. Increased agricultural output and quality
  • Constraints to commodity trading:
  1. Inadequate supply
  2. Poor storage
  3. Bad weather
  4. Ethical issues

 

WEEK 9

Topic: COMMODITY EXCHANGE

  • Differentiate between Commodity and Stock
  • Items traded: Tangible and Intangible Methods of Pricing
  • Sole proprietorship: Meaning, Features and Sources of Capital, Advantages and Disadvantages
  • Partnership: Meaning, Types, Formation and Agreement

 

WEEK 10

Topic: PARTNERSHIP

  • Sources of capital: Advantages and Disadvantages.
  • Dissolution

 

WEEK 11

  • Revision

 

WEEK 12

  • Examination

 

See Scheme of Work for Commerce, SS1 First Term here

See Scheme of Work for Commerce, SS1 Third Term here


len

Alfred Ajibola is a Medical Biochemist, a passionate Academician with over 7 years of experience, a Versatile Writer, a Web Developer, a Cisco Certified Network Associate and a Cisco CyberOps Associate.


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Amazing facts in Commerce

Amazon is an e-commerce website launched in 1995. It did not make any profit for its first seven years.
Amazon's first profit was in 2003. Its founder "Jeff Bezos" is the richest man in the world as at 2018/2019


NOTABLE POINTS IN Commerce

Commerce can be defined as the exchange of goods and services, usually for money and on a large scale that will require the transportation of such goods and services.

Commerce is very important to the life of any Nation for the following reasons:

  1. Commerce facilitates the exchange of goods and services which everyone can enjoy, regardless their location or whether the goods is produced within or outside their country.
  2. Commerce creates an awareness of the existence of goods and services through advertising.
  3. Commerce offers employment to a very large number of people in a Nation.
  4. Commerce promotes rapid transfer of both oral and written messages through communication.
  5. Commerce determines the standard of living in a Nation. This is because the extent of commercial activities is crucial to wealth of  a nation.
  6. Commerce makes for the protection against risk in day to day business operations.
  7. Through commerce, there is a steady supply of goods in a Nation. This is because commerce ensures that goods produced are stored until needed.

A public company is not owned by an individual. Usually, it is owned by groups or a very large number of people.

The shares of a public company are traded freely on the stock exchange.

Below are some features of a public company

  1. A public company must receive it’s training certificate to commence business.
  2. The minimum membership is two while the maximum membership is limitless.
  3. A public company has a legal status. It can sue and be sued.
  4. A public company files and publishes its annual reports, including its accounts.
  5. The liability of its members is limited.
  6. The shares are easily transferrable through the stock market.
  7. A public company can issue debentures to be secured as its assets.

Please read on the types of business structure here

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