Commerce

Scheme of work for Commerce, SS1, Second Term

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

Topics in Commerce

Factors necessary for Division of Labour Disadvantages of Division of Labour Advantages of Division of Labour Outbound Marketing explained Inbound Marketing explained Production - Types of Production Commerce: Definitions and Scopes of Commerce Differences between Balance of Trade and Balance of Payments Balance of Payment Deficit and Balance of Payment Surplus Disadvantages of Foreign Trade Divisions of Foreign Trade Advantages of Foreign Trade What is Foreign Trade? Types of Foreign Trade 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: What is Division of Labour? Forms of Division of Labour Balance of Trade and Balance of Payments Production: Definitions and Examples of Production


Academic Questions in Commerce

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

The followings are advantages of division of labour EXCEPT _____.

  • A. It promotes the use of machines in production industries
  • B. There is an increase in profit
  • C. It saves time and expenses of training
  • D. It fosters the spirit of division
  • E. It increases the production of quality goods and services in the market
  • F. It increases a country's economic growth

Which of the following statement is incorrect concerning division of labour?

  • A. It is the specialization of works
  • B. It can become monotonous
  • C. It is the specialization of processes
  • D. The nature of a job is not a condition for division of labour
  • E. A person performs only a part of the job
  • F. Division of labour has some of its drawbacks

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

Please read on Balance of Trade and Balance of Payments here.

 

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
You can read on various Motivation Quotes for Students here.

 

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

Please read on Commodity Market, Types and Importance of Commodity Market here.

 

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

Please read on Meaning, Types, Advantages and Disadvantages of Partnership and other Business Structures here.

 

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

THANKS FOR READING - Please Help Share!


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

The four elements of the marketing mix are usually referred to as the 4 “P”. These are:

  1. Product: Anything thing that satisfies a consumer’s need is referred to as a product. Product may come in the form of manufactured goods, raw materials or services.
  2. Price: Price is defined as the exchange value of goods and services supplied. In simple terms, it serves as a mechanism of exchange.
  3. Promotion: It involves all the processes that concerns with how business organizations should inform their customers about its product. If done properly, the demand of product will be increased. Promotions can take the form of advertising, search engine optimization, social media marketing, trade fairs exhibition and so on.
  4. Place: The place as a marketing mix concerns variables such as location and transport facility where the distribution of goods and services take place.

Think of marketing mix as the set of marketing tools that an industry or company uses to drive or accomplish its marketing objectives in the target market

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