{"id":1832,"date":"2023-10-02T06:36:36","date_gmt":"2023-10-02T06:36:36","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=1832"},"modified":"2023-10-02T06:38:56","modified_gmt":"2023-10-02T06:38:56","slug":"week-6-ss1-first-term-commerce-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-6-ss1-first-term-commerce-notes\/","title":{"rendered":"Week 6 &#8211; SS1 First Term Commerce Notes"},"content":{"rendered":"<p>\u00a0<br \/>\n\u00a0<strong>WEEK SIX<br \/>\n<\/strong><strong>TOPIC: SMALL SCALE RETAILING<br \/>\n<\/strong><strong>CONTENT<br \/>\n<\/strong><\/p>\n<ul>\n<li>\n<div>Itinerant trading\n<\/div>\n<\/li>\n<li>\n<div>Other types of small scale retailing\n<\/div>\n<\/li>\n<li>\n<div>Reasons for the existence of many small scale retail businesses in Nigeria\n<\/div>\n<\/li>\n<li>\n<div>Problems encountered by small scale retailers\n<\/div>\n<\/li>\n<\/ul>\n<p>\u00a0There are several types of size of retail outlets which for easy analysis can be grouped into two, namely: Small scale and Large scale retailing <\/p>\n<p>\u00a0<strong>TYPES OF SMALL SCALE RETAILING<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Itinerant Traders: The common feature of itinerant traders is that they move from place to place to sell, thereby making goods handy for customers i.e. goods are brought to the consumer&#8217;s doors. Examples of itinerant traders are hawkers, peddlers, gypsies etc <\/p>\n<p>\u00a0<strong>FEATURES OF HAWKING\/ ITINERANT TRADING<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Hawking is a form of small scale retail business.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0It provides door-to door selling.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Hawking requires small capital outlay to set up.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0It involves movement of goods from one place to another on the head by carts, by canoe, wheel barrows etc.<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Hawkers do not pay rent<br \/>\n6.\u00a0\u00a0\u00a0\u00a0The goods are advertised to customers through shouting the wares, bell, horn, trumpet or loud speakers <\/p>\n<p>\u00a0<strong>ADVANTAGES OF HAWKING<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0It requires small amount of capital for its operation.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0It provides door-to-door selling.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0It is easy to start.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Hawking is a form of advertising.<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Little or no running expenses is incurred by its operators i.e. no rent, wages etc is paid.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0There is flexibility in its operations.<br \/>\n7.\u00a0\u00a0\u00a0\u00a0The goods are sold at cheap prices to customers.<br \/>\n8.\u00a0\u00a0\u00a0\u00a0Hawking provide employment opportunities to many who would otherwise have been unemployed.<\/p>\n<p>\u00a0<strong>DISADVANTAGES OF HAWKING<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Hawkers are exposed to the dangers of road mishaps or accidents.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Hawking disturbs the flow of traffic i.e. it cause traffic hold-ups in urban cities e.g. Lagos.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Hawking deprives some children of their education.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Child abuse or child Labour is encouraged by hawking.<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Hawking contributes to the littering of streets by generating refuse that are dropped on the roads.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Food items are exposed to health hazards e.g. dust, germs, unsanitary handling by hawkers.<br \/>\n7.\u00a0\u00a0\u00a0\u00a0Young hawkers are exposed to bad influence e.g. drugs, armed robbery, crime by social miscreants.<br \/>\n8.\u00a0\u00a0\u00a0\u00a0Hawking is stressful \u2013 hawkers are exposed to bad weather conditions like cold, intense heat e.t.c.<br \/>\n9.\u00a0\u00a0\u00a0\u00a0Hawking is an important avenue for the sale of fake or sub-standard goods.<br \/>\n10\u00a0\u00a0\u00a0\u00a0Government is deprived of revenue as most hawkers do not pay taxes or rates to the local government.<br \/>\n11.\u00a0\u00a0\u00a0\u00a0Young girls engaged in hawking  could be assaulted sexually leading to early pregnancies.<\/p>\n<p>\u00a0<strong>OTHER TYPES OF SMALL SCALE RETAILING<br \/>\n<\/strong>2.\u00a0\u00a0\u00a0\u00a0Street retailing or Roadside Traders.<br \/>\n\u00a0\u00a0\u00a0\u00a0These are traders who display their wares along the streets, roads or outside the gates of schools, companies or offices in town and cities.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Market Traders or Stall Holders<br \/>\n\u00a0\u00a0\u00a0\u00a0These are traders found in established markets and who operate by arranging or displaying their wares (goods) on tables, sheds or stalls. They are traders who do not operate from fixed shops.<\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0State five advantages of hawking.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0State four disadvantages of small scale retail trade.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Explain five ways in which the activities of hawkers constitute a disadvantage to the economy.<\/p>\n<p>\u00a0<strong>OTHER TYPES OF SMALL SCALE RETAILING<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0<strong>KIOSKS:<\/strong> These are retail outlets that offer very limited range of consumer items e.g. cigarettes, sweets, provisions, newspaper and magazines, stationery; phone cards\/call services etc. They are usually sited at places where customers frequently pass such as junctions, motor parks etc<br \/>\n2.\u00a0\u00a0\u00a0\u00a0<strong>Small Store or Single Shops:<\/strong> These are small stores found in  front of residential houses or at shopping complexes. They are conveniently located for customers and are found in both urban and rural areas.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0<strong>Tied Shops:<\/strong>\u00a0\u00a0\u00a0\u00a0These are shops that confine what ever they sell to single commodity which their producers supply direct to them. The shop owners are supported with finance equipment\/machinery for the sale of such products by the manufacturer. Tied shops sell single product like ice cream, soft drinks, petroleum products, beer etc.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0<strong>Mobile shops:<\/strong>\u00a0\u00a0\u00a0\u00a0These are motor vans or lorries used as shops with goods well arranged. They build up regular customers and are very convenient  for consumers in remote areas. They advertise by music, microphone announcement, public address system, jingles etc.<\/p>\n<p>\u00a0<strong>REASONS FOR THE EXISTENCE OF MANY SMALL SCALE RETAIL BUSINESSES IN NIGERIA\/WEST AFRICA<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Lack of sufficient capital that could be used to established large retail business<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Low savings as a result of low per capital income<br \/>\n3.\u00a0\u00a0\u00a0\u00a0High rate of unemployment and the difficulty in getting white collar jobs<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Absence of developed markets<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Small scale business requires small capital which is within the reach of many people.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Small scale retailing is attractive as it involves low running expenses.<br \/>\n7.\u00a0\u00a0\u00a0\u00a0There is flexibility in its operations: The owner can combine it with other forms of occupation and it can easily be adapted to changing conditions where necessary.<\/p>\n<p>\u00a0<strong>PROBLEMS ENCOUNTERED BY SMALL SCALE RETAILERS<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Competition from big businesses e.g. price competition<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Insufficient capital for investment and expansion of business<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Inability to secure an ideal location because of congestion especially in urban areas<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Bad debts i.e. inability of the business to collect debts from its debtors.<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Unlimited liability \u2013 Small scale businesses are usually in the form of sole proprietorship or partnership.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Disturbance from government agencies like urban planning, revenue officials, environmental protection agencies e.t.c<\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Differentiate between a kiosk and a tied shop<br \/>\n2.\u00a0\u00a0\u00a0\u00a0What is the similarity between a mobile shop and hawking?<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Why are there many small scale retail traders in Nigeria?<\/p>\n<p>\u00a0<strong>READING ASSIGNMENT<br \/>\n<\/strong>Essential commerce for SSS by O. A Longe Page 21 &#8211; 25<\/p>\n<p>\u00a0<strong>WEEKEND ASSIGMENT<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Peddling and hawking are examples of (a) large scale retailing (b) small scale retailing (c) medium scale retailing (d) small scale wholesaling<br \/>\n2.\u00a0\u00a0\u00a0\u00a0The term &#8216;enterprises&#8217; denotes the ability to (a) bear risk (b) control other factors of production (c) maximize profit (d) organize other factors of production<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Buying and selling of goods and services within the geographical area of a country is called ________ trade (a) entrepot (b) external (c) domestic (d) import<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Which of the following is an example of itinerant trading? (a) mobile shop (b) mail order business (c) stall holding (d) selling from kiosk<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Which of the following is not a retail outlet? (a) mobile shop (b) tied shop (c) discount house (d) kiosk<\/p>\n<p>\u00a0<strong>THEORY<br \/>\n<\/strong>1a.\u00a0\u00a0\u00a0\u00a0Who are itinerant traders?<br \/>\n  b.\u00a0\u00a0\u00a0\u00a0State four features of hawking.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0State three reasons for the survival of small scale retailers in Nigeria<\/p>\n<p>\u00a0<strong>GENERAL EVALUATION<\/strong><\/p>\n<ol>\n<li>\n<div>Explain five activities involved in Commerce\n<\/div>\n<\/li>\n<li>\n<div>State three uses of capital as a factor of  production\n<\/div>\n<\/li>\n<li>\n<div>State four uses of land as a factor of production\n<\/div>\n<\/li>\n<li>\n<div>List six functions of  an entrepreneur\n<\/div>\n<\/li>\n<li>\n<div>Explain five advantages of small scale retailing\n<\/div>\n<p>\u00a0<strong>x<br \/>\n\t\t\t\t\t\t<\/strong><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 \u00a0WEEK SIX TOPIC: SMALL SCALE RETAILING CONTENT Itinerant trading Other types of small scale&#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-1832","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\/1832","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=1832"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1832\/revisions"}],"predecessor-version":[{"id":1833,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1832\/revisions\/1833"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=1832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=1832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=1832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}