Commerce

Scheme of Work for Commerce, SS1, First Term

len Alfred Ajibola - Tue, 27th August, 2019 @ 17:16: PM

Topics in Commerce

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, Advantages and Disadvantages of Division of Labour Balance of Trade and Balance of Payments Production: Definitions and Examples of Production Deferred payment and its benefits Commodity Market, Types and Importance of Commodity Market What is Marketing? Branches of Marketing


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, 1st Term:

 

WEEK 1

Topic: INTRODUCTION TO COMMERCE

  • Meaning of Commerce
  • Scope and Functions of Commerce
  • Characteristics of Commerce
  • E- commerce, Meaning, and Functions

Please read on the Meaning, Scope, Functions and Characteristics of Commerce here.

 

WEEK 2

Topic: HISTORY OF COMMERCE

  • Historical background of commerce in Nigeria
  • Factors affecting the growth of commerce
  • The Barter System

 

WEEK 3

Topic: OCCUPATION

  • Meaning of Occupation
  • Classifications of Occupation:
  1. Industrial
  2. Commercial
  3. Services occupation
  • Factors that determine types of Occupation and employment

 

WEEK 4

Topic: PRODUCTION

  • Meaning and Types of Industry (primary & secondary)
  • Commerce (Aids to Trade)
  • Services/Tertiary (Direct & Indirect)

Please read on Production here.

 

WEEK 5

Topic: PRODUCTION

  • Factors determining the Volume of Production
  • Factors of Production:
  1. Land
  2. Labor
  3. Capital
  4. Entrepreneur
  • Division of labour: Meaning, Advantages and Disadvantages
  • Limitations to Division of Labour
  • Specialization and Exchange
  • Interrelationship between Production, Division of labour, Exchange and Specialization

 

WEEK 6

Topic: TRADE

  • Meaning and Types of Trade
  • Home Trade
  • Foreign Trade
  • Entrepot Trade
  • Relationship among the different types of Trade

You can Attempt LEN ACADEMY Questions (with Answers) here.

 

WEEK 7

Topic: HOME TRADE

  • Characteristics and Functions of Retail Trade
  • Highlight the Features, Advantages and Disadvantages of Retail Trade
  • Factors to be considered before setting up Retail Shop
  • Small scale retailing: Hawking, Mobile shops, Kiosk etc
  • Meaning, Characteristics, Advantages, and Disadvantages of each

 

WEEK 8

Topic: SMALL SCALE RETAILING

  • Store/market Trader: Meaning, Characteristics, Features, Advantages and Disadvantages
  • Unit/Tied Shop: Meaning, Characteristics, Features, Advantages and Disadvantages
  • Reasons for survival of small scale retailers
  • Problems of small scale retail business

 

WEEK 9

Topic: TYPES OF LARGE SCALE RETAIL TRADE

  • Super market: Meaning, Features, Advantages and Disadvantages
  • Departmental store: Meaning, Features, Advantages and Disadvantages
  • Multiple/chain store: Meaning, Features, Advantages and Disadvantages

 

WEEK 10

Topic: LARGE SCALE RETAIL TRADE

  • Mail Order Business Firms: Meaning, Features, Advantages and Disadvantages
  • Hyper market: Meaning, Features, Advantages and Disadvantages
  • Variety Store/One Top shop: Meaning, Features, Advantages and Disadvantages
  • Retail/Whole Sale Co-operative Society: Meaning, Features, Advantages and Disadvantages

 

WEEK 11

Topic: MODERN TREND IN RETAILING

  • Branding: Meaning, Advantages and Disadvantages
  • Self services: Meaning, Advantages and Disadvantages
  • After Sale Services: Meaning, Advantages and Disadvantages
  • Describe necessary documents used in Home Trade

 

WEEK 12

Topic: MODERN TREND IN RETAILING

  • Vending machine: Meaning, Advantages, and Disadvantages
  • Reasons why Retail Trade may fail

 

WEEK 13

  • Revision

 

WEEK 14

  • Examination

 

See Scheme of Work for Commerce, SS1 Second Term here

See Scheme of Work for Commerce, SS1 Third Term here


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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.


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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