{"id":1822,"date":"2023-10-02T06:34:39","date_gmt":"2023-10-02T06:34:39","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=1822"},"modified":"2023-10-02T06:38:56","modified_gmt":"2023-10-02T06:38:56","slug":"week-1-ss1-first-term-commerce-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-1-ss1-first-term-commerce-notes\/","title":{"rendered":"Week 1 &#8211; SS1 First Term Commerce Notes"},"content":{"rendered":"<p>\u00a0<br \/>\n\u00a0<strong>FIRST TERM E-LEARNING NOTE<br \/>\n<\/strong><br \/>\n\u00a0<strong>SUBJECT: COMMERCE \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0                                                               CLASS: SSS 1<br \/>\n<\/strong><br \/>\n\u00a0<strong>SCHEME OF WORK<br \/>\n<\/strong><br \/>\n\u00a0<strong>WEEK  \u00a0\u00a0\u00a0\u00a0TOPIC<br \/>\n<\/strong>1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Meaning, Scope and Functions of Commerce.<br \/>\n2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Occupation<br \/>\n3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Production<br \/>\n4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Division of Labour, Specialization and Exchange<br \/>\n5\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Retail Trade<br \/>\n6\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Small Scale Retailing<br \/>\n7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Large Scale Retailing<br \/>\n8\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Modern Trends in Retailing<br \/>\n9\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Wholesale Trade<br \/>\n10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Warehousing<br \/>\n11\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Revision<br \/>\n12\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Examination<\/p>\n<p>\u00a0<br \/>\n\u00a0<strong>WEEK ONE<br \/>\n<\/strong><strong>TOPIC: MEANING, SCOPE AND FUNCTIONS OF COMMERCE<br \/>\n<\/strong><strong>CONTENT<br \/>\n<\/strong><\/p>\n<ul>\n<li>\n<div>The Importance of Commerce\n<\/div>\n<\/li>\n<li>\n<div>History of Commerce in Nigeria \/West Africa\n<\/div>\n<\/li>\n<li>\n<div>Divisions of Commerce\n<\/div>\n<p>\u00a0<strong>DEFINITION OF COMMERCE<br \/>\n<\/strong><\/li>\n<\/ul>\n<p>Commerce is the study of production, distribution and exchange of goods and services aimed at satisfying human wants and in order to earn a living.<\/p>\n<p>\u00a0<strong>THE IMPORTANCE (FUNCTIONS) OF COMMERCE<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0It provides employment opportunities for the people.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0It makes production and exchange of goods and services possible.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0It improves the standard of living of people by making modern goods available.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0It aids national and international co-operation by ensuring inter-dependence of nations<br \/>\n5.\u00a0\u00a0\u00a0\u00a0It facilitates division of labour and specialization.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0It brings technological innovation and aids infrastructural development. <\/p>\n<p>\u00a0<strong>STAGES IN THE HISTORY AND DEVELOPMENT OF COMMERCE<br \/>\n<\/strong>(i)\u00a0\u00a0\u00a0\u00a0Earliest time: &#8211; Production was subsistent in nature.<br \/>\n(ii)\u00a0\u00a0\u00a0\u00a0Exchange of goods and services by barter.<br \/>\n(iii)\u00a0\u00a0\u00a0\u00a0Exchange of goods and services through the use of commodity money.<br \/>\n(iv)\u00a0\u00a0\u00a0\u00a0Introduction of money \u2013 notes and coins as a medium of exchange<br \/>\n(v)\u00a0\u00a0\u00a0\u00a0Improvement in aids to trade. <\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0What is Commerce?<br \/>\n2.\u00a0\u00a0\u00a0\u00a0State four functions of Commerce .<\/p>\n<p>\u00a0<strong>FACTORS THAT DELAYED THE DEVELOPMENT OF COMMERCE  IN NIGERIA\/ WEST AFRICA<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Political instability<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Low savings<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Absence of developed markets<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Poor communication system<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Illiteracy<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Inadequate capital<br \/>\n7.\u00a0\u00a0\u00a0\u00a0Low level of technology<br \/>\n8.\u00a0\u00a0\u00a0\u00a0Inadequate infrastructural facilities \/ poor infrastructural facilities<br \/>\n9.\u00a0\u00a0\u00a0\u00a0Low National income<\/p>\n<p>\u00a0<strong>FACTORS THAT HAVE CONTRIBUTED TO THE GROWTH OF COMMERCE IN NIGERIA\/WEST AFRICA<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Development of modern techniques of production<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Political stability<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Development of financial institutions<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Development of efficient means of transportation and communication<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Availability of warehousing facilities<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Improvements in aids to trade e.g. Insurance, Advertising etc<br \/>\n7.\u00a0\u00a0\u00a0\u00a0Advancement in levels of education \/ literacy<\/p>\n<p>\u00a0<strong>DIVISIONS OF COMMERCE<br \/>\n<\/strong>Commerce can be grouped into two main branches or divisions namely:<br \/>\n1.\u00a0\u00a0\u00a0\u00a0Trade<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Aids to trade<br \/>\n\u00a0\u00a0\u00a0\u00a0The aids to trade can be subdivided into:<br \/>\n(a)\u00a0\u00a0\u00a0\u00a0Transport (b) Insurance (c) Banking and Finance (d) Advertising<br \/>\n(e)\u00a0\u00a0\u00a0\u00a0Warehousing (f) Communication (g) Tourism <\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Why is Commerce so essential to modern Society?<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Set out carefully the principal divisions of Commerce and give an idea of the relative importance of each division.<\/p>\n<p>\u00a0<strong>READING ASSIGNMENT<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Essential Commerce for SSS by O.A. Longe Page 1-8<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Comprehensive Commerce for SSS by J.U Anyaele Page 29-36<\/p>\n<p>\u00a0<strong>WEEKEND ASSIGNMENT<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0The main divisions of commerce are (a) Home trade and foreign trade (b) Transportation and warehousing (c) Trade and aids to trade (d) Wholesale and Retail trade<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Which of the following is not a benefit of commerce? It (a) Facilitates the movement of goods and services (b) Provides employment to people (c) Increases the cost of living (d) Makes funds available for business activities<br \/>\n3.\u00a0\u00a0\u00a0\u00a0All are aids to trade except (a) Advertising (b) Transportation (c) Retailing<br \/>\n(d) Banking<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Which of the following can be defined as trade and aid to trade? (a) Advertising (b) Commerce (c) Warehousing (d) Retailing<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Which of the following is not a basic want of man? (a) Transport (b) Food (c) Water (d) Clothing <\/p>\n<p>\u00a0<strong>THEORY<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0State three ancillary services to trade .<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Mention three ways by which transport aids trade.<\/p>\n<p>\u00a0<strong>GENERAL EVALUATION<br \/>\n<\/strong><\/p>\n<ol>\n<li>\n<div>What is Commerce?\n<\/div>\n<\/li>\n<li>\n<div>State and explain the importance of any five ancillary services to trade.\n<\/div>\n<\/li>\n<li>\n<div>Give any five advantages of advertising.\n<\/div>\n<\/li>\n<li>\n<div>State five ways in which warehousing is useful to businessmen.\n<\/div>\n<\/li>\n<li>\n<div>In what ways does transport aid trade.\n<\/div>\n<\/li>\n<\/ol>\n<p><strong><br \/>\n\t\t\t<\/strong>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 \u00a0FIRST TERM E-LEARNING NOTE \u00a0SUBJECT: COMMERCE \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CLASS: SSS 1 \u00a0SCHEME OF WORK \u00a0WEEK&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,168],"tags":[],"class_list":["post-1822","post","type-post","status-publish","format-standard","hentry","category-posts","category-first-term-ss1-commerce"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/comments?post=1822"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1822\/revisions"}],"predecessor-version":[{"id":1823,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1822\/revisions\/1823"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=1822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=1822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=1822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}