differentiate between Commerce and other related subjects;
describe the characteristics of Commerce;
Identify the functions of Commerce
2. OCCUPATION
Occupation
Content:
•Meaning and importance
•Types (industrial, commercial, and services)
•Factors that determine choice of occupation
Learning Objectives:
State the importance of occupation;
Compare the different types of occupation;
Identify the factors determining the choice of occupation.
3. PRODUCTION
Production
Content:
•Factors, characteristics, and rewards (land, labour, capital, and entrepreneur)
•Division of Labour and specialization
•Types (primary, secondary and tertiary)
Learning Objectives:
identify the Factors of Production and their rewards;
distinguish between Division of Labour and Specialization;
classify the types of production.
4. TRADE
Home Trade
Content:
•Retail trade:
•- Types of retailers
•- Functions of retailers
•- Factors to be considered in setting up retail trade
•- Trends in retailing (branding, self -service, vending machines, the use of luncheon, fuel vouchers, etc)
•- Advantages and disadvantages of retailers
•Wholesale trade:
•- Types of wholesalers (merchant, agent, general, etc)
•- Functions of wholesalers
•- Advantages and disadvantages of wholesalers
Learning Objectives:
compare the various types of retailers;
identify the functions of retailers;
highlight the factors in setting up retail trade;
classify modern retailing practices;
identify the advantages and disadvantages of retail business;
classify the types of wholesalers;
discuss the functions of wholesalers;
outline the merits and demerits of the middleman;
Foreign Trade
Content:
•Basic issues in foreign trade (balance of trade, balance of payments, and counter trade)
•Procedures and documents used in export, import, and entreport trade
•Barriers to international trade
•Role of Customs and Excise Authority, Ports Authority, etc in foreign trade
Learning Objectives:
analyse the basic issues in foreign trade;
explain the procedures and documents used in foreign trade;
identify the barriers to international trade;
appraise the role of government agencies in foreign trade
5. PURCHASE AND SALE OF GOODS
Purchase and Sale of Goods
Content:
•Procedure and documentation (enquiry, quotation, order, invoice, proforma invoice, statement of accounts, indent, consular invoice, bill of lading, certificate of origin, consignment note, etc)
•Terms of trade (trade discount, quantity discount, cash discount, warranties, C.O.D., C.I.F., F.O.B., and E.O.E. etc)
•Terms of payments
•a. Cash – Legal tender
•b. Credit
•- Types and functions
•- Merits and demerits
Learning Objectives:
examine the procedures and documents used in the purchase and sale of goods;
determine the terms of trade;
distinguish between cash and credit forms of payment;
identify the types of credit;
analyse the merits and demerits of credit transactions.
6. AIDS-TO-TRADE
Advertising
Content:
•Types and media
•Advantages and disadvantages
Learning Objectives:
identify the different types of advertising and its media;
analyse the advantages and disadvantages of advertising;
Banking
Content:
•Types of bank
•Services
•Challenges
Learning Objectives:
categorize the different types of bank;
assess the services rendered by banks;
identify the challenges facing banks;
Communication
Content:
•Process and procedure
•Types
•Trends
•Merits and demerits
•Barriers
Learning Objectives:
assess the different stages in the communication process;
analyse the types of communication;
appraise the contributions of courier services, GSM, etc., to businesses;
state the merits and demerits of communication;
outline the barriers to communication
Insurance
Content:
•Types
•Principles
•Terms
•Importance
Learning Objectives:
describe the types of insurance;
apply the principles of insurance to life situations;
explain the terms in insurance;
state the importance of insurance;
Tourism
Content:
•Importance
•Agencies that promote tourism in Nigeria
•Challenges
Learning Objectives:
examine the importance of tourism;
identify the agencies that promote tourism in Nigeria;
analyse the challenges facing tourism in Nigeria;
Transportation
Content:
•Mode
•Importance
•Advantages and disadvantages
Learning Objectives:
appraise the relevance of the various modes of transportation;
list the importance of transportation;
discuss the advantages and disadvantages of transportation;
Warehousing
Content:
•Importance
•Types and functions
•Factors to be considered in siting a warehouse
Learning Objectives:
highlight the importance of warehousing;
appraise the contributions of warehouses to businesses.
evaluate the factors that determine the siting of warehouses
7. BUSINESS UNITS
Business Units
Content:
•Forms and features (Sole Proprietorship, Partnership, Limited Liability Companies, Public Corporations, Cooperative Societies, etc.)
•Registration of businesses
•Business Mergers
•Determination of choice of business units
•Dissolution and liquidation
•Merits and demerits
Learning Objectives:
identify the forms and features of business units;
analyse the procedures for registering businesses;
appraise the different forms of business mergers and the reasons for merging;
examine the factors which determine the choice of business units;
differentiate between dissolution and liquidation of business;
state the merits and demerits of business units.
8. FINANCING BUSINESS
Financing Business
Content:
•Sources of finance (personal savings, sale of shares and bonds, loans, debentures, mortgage, bank overdraft, ploughing back of profit, credit purchase, leasing, etc.)
•Types of capital (share capital, capital owned, authorized (capital, issued capital, called-up capital, paid-up capital, liquid capital, working capital, and owners’ equity)
•Calculation of forms of capital, profits (gross and net), and turnover
•Problems of sourcing finance
•The role of Bureau de change in an economy
Learning Objectives:
identify the various ways of financing a business;
discuss the different types of capital
compute the different forms of capital, profits, and turnover;
appraise the problems associated with sourcing finances for business;
assess the role of bureaux de change in an economy.
9. TRADE ASSOCIATIONS
Trade Associations
Content:
•Objectives and functions of trade and manufacturer’s associations (Cocoa Farmers’ Association, Garri Sellers’ Association, Poultry Farmers’ Association, etc.)
•Objectives and functions of Chambers of Commerce.
Learning Objectives:
discuss the objectives and functions of trade and manufacturer’s associations;
list the objectives and functions of Chambers of Commerce.