{"id":2557,"date":"2023-10-03T09:47:15","date_gmt":"2023-10-03T09:47:15","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=2557"},"modified":"2023-10-03T09:47:59","modified_gmt":"2023-10-03T09:47:59","slug":"week-1-ss1-third-term-economics-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-1-ss1-third-term-economics-notes\/","title":{"rendered":"Week 1 – SS1 Third Term Economics Notes"},"content":{"rendered":"

THIRD TERM E-LEARNING NOTE
\n<\/strong>
\n\u00a0SUBJECT: ECONOMICS\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0CLASS: SSS 1
\n<\/strong>
\n\u00a0<\/p>\n

SCHEME OF WORK
\n<\/strong><\/h2>\n

\u00a0WEEK\u00a0\u00a0\u00a0\u00a0TOPICS
\n<\/strong>1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Revision of Second Term Unified Examination
\nDISTRIBUTIVE TRADE
\n<\/strong>Meaning
\nChain of Distribution.
\nProcess of Distribution
\nWholesalers (Functions to Producers and Retailers).
\nRetailers (Functions to Wholesaler and Customers).
\n2 \u00a0\u00a0\u00a0\u00a0MIDDLEMEN
\n<\/strong>Argument For or Against the Elimination of Middlemen
\nProblems of Product Distribution in Nigeria
\nWays of Improving the System of Distribution of Consumer Goods in West Africa.
\nRoles of Government Agencies in Product Distribution
\n3 \u00a0\u00a0\u00a0\u00a0MONEY<\/strong>
\n\tDefinition of money and its origin
\nTrade by Barter system and its deficiencies
\nKinds \/ Types of Money
\nCharacteristics of Money
\nFunctions of Money
\n4 \u00a0\u00a0\u00a0\u00a0FINANCIAL INSTITUTIONS<\/strong>
\n\tMeaning of Financial Institutions
\nTypes of Financial Institution
\nCommercial Banks
\n<\/strong>Meaning of Commercial Banks
\nCharacteristics of Commercial Banks
\nFunctions and Creation of Credit and its Limitations
\nCentral Bank
\n<\/strong>Meaning of Central Bank
\nCharacteristics of Central Bank
\nFunctions and Weapons of Controlling Commercial Banks
\n5 \u00a0\u00a0\u00a0\u00a0CONCEPT OF DEMAND AND SUPPLY
\n<\/strong>\u00a0\u00a0\u00a0\u00a0DEMAND<\/strong>
\n\tMeaning of Demand
\nLaw of Demand
\nSchedule and Curve
\nTypes of Demand
\nFactors Affecting Demand
\n6 \u00a0\u00a0\u00a0\u00a0SUPPLY
\n<\/strong>Meaning of Supply
\nLaw of Supply
\nSchedule and Curve
\nTypes of Supply
\nFactors Affecting Supply
\n7 \u00a0\u00a0\u00a0\u00a0EQUILIBRIUM PRICE\/PRICE DETERMINATION<\/strong>
\n\tMeaning
\nUse of Hypothetical Schedule and Graph to Determine Equilibrium Price
\nCalculation from Hypothetical Table from Equations of Demand and Supply (i.e. Qd = Qs)
\nPrice System
\n<\/strong>Meaning of Price System
\nFunctions and Other Means of Determining Prices
\n\t\t<\/strong>8 \u00a0\u00a0\u00a0\u00a0THE NATURE OF THE NIGERIAN ECONOMY<\/strong>
\n\tGeneral Overview of the Nigerian Economy
\nNature and Structure of Industries in Nigeria
\nContributions of Primary, Secondary and Tertiary Sectors
\nExplain Economic Activities of the Six GeoPolitical Zones
\n9 \u00a0\u00a0\u00a0\u00a0AGRICULTURE<\/strong>
\n\tMeaning of Agriculture
\nComponents\/Structures
\nSystems of Agriculture
\nContributions to the Economy
\nProblems and Solutions of Agriculture
\nAgricultural Policies in Nigeria (OFN, RBOA, NAFPP, Green Revolution)
\n10 \u00a0\u00a0\u00a0\u00a0MINING
\n<\/strong>Meaning
\nComponents of the Nigerian Mining Industry
\nMinerals (Types, Uses and Locations)
\n11 \u00a0\u00a0\u00a0\u00a0Revision
\n12 – 13 \u00a0\u00a0\u00a0\u00a0Examination<\/p>\n

\u00a0REFERENCE BOOK
\n<\/strong><\/p>\n

    \n
  • Amplified and Simplified Economics for Senior Secondary School by Femi Longe\n<\/li>\n
  • Comprehensive Economics for Senior Secondary School by J.V. Anyaele\n<\/li>\n
  • \n
    Fundamentals of Economics for SSS By. R.A.I. Anyanwuocha
    \n\t\t\t\t<\/strong><\/div>\n

    \u00a0
    \n\u00a0<\/li>\n<\/ul>\n

    WEEK ONE
    \n<\/strong>DISTRIBUTIVE TRADE
    \n<\/strong>CONTENT
    \n<\/strong><\/p>\n

      \n
    • Definition of Distributive Trade
      \n\t\t\t<\/strong><\/li>\n
    • Process of Distribution
      \n\t\t\t<\/strong><\/li>\n
    • Wholesalers (Functions to Producers and Retailers).\n<\/li>\n
    • Retailers (Functions to Wholesaler and Customers).\n<\/li>\n<\/ul>\n

      \u00a0DISTRIBUTIVE TRADE<\/strong>:
      \nDistributive Trade<\/strong>-which
      \n\t\t<\/strong>is also known as the chain of distribution, refers to the various
      \n\t\t<\/strong>stages or channels through which finished goods are moved from the manufacturers\/producers to the final consumers .<\/strong>That is, it is the process of getting goods from the producer to the final consumers. There are various channels through which goods get to the final consumer commonly called channel of distribution. The common channel through which the consumer get the goods is represented as: <\/p>\n

      \u00a0\"\"\/\"\"\/\"\"\/Manufacturer \/Producer\u00a0\u00a0\u00a0\u00a0 Wholesaler \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Retailer \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Final consumer<\/p>\n

      \u00a0PROCESS OF DISTRIBUTION
      \n<\/strong>Process of Distribution<\/strong>– involves all human and physical means which aid the smooth transfer of goods from the manufacturers to the final consumers. The process of distribution involves:
      \n1. Middlemen<\/strong>– the middlemen or agents are human elements involved in the distribution of goods from the producers to the final consumers, eg wholesaler and retailer
      \n2. Transportation<\/strong>– is the medium through which the finished goods are moved by air, land or water from the manufacturers to the final consumers
      \n3. Advertisement<\/strong>– is the process of creating awareness in the mind of the public about the existence of a product.
      \n4. Warehousing<\/strong>– is a process through which the goods produced are stored until they are needed.<\/p>\n

      \u00a0EVALUATION
      \n<\/strong><\/p>\n

        \n
      1. Define distributive trade\n<\/li>\n
      2. Explain process of distribution\n<\/li>\n<\/ol>\n

        \u00a0THE WHOLESALER
        \n<\/strong>A wholesaler may be defined as the trader who buy goods in large quantity from the producer and sells in small quantity to the retailer. The wholesaler is an essential and desirable element in the channel of distribution and production. He is sometimes called a middleman because he is in-between the producer and the retailer.<\/p>\n

        \u00a0FUNCTIONS OF WHOLESALER TO THE PRODUCER
        \n<\/strong><\/p>\n

          \n
        1. Bulk breaking: This is one of the most essential functions of the wholesaler as he is able to satisfy the needs of purchasing in large quantity from the producer.\n<\/li>\n
        2. The wholesaler finances the producer by making prompt or advance payment for goods.\n<\/li>\n
        3. He also finances the retailer by giving credit facility to them.\n<\/li>\n
        4. He helps to make the prices of goods stable especially where production is irregular.\n<\/li>\n
        5. He provides warehousing or storage facilities for goods bought.\n<\/li>\n
        6. He gives vital information about market situation to the producer.\n<\/li>\n
        7. He completes the manufacturing of some goods by doing the packaging and branding.\n<\/li>\n
        8. Wholesalers help to create markets for producers and themselves through large scale advertising use of sales representatives etc.\n<\/li>\n<\/ol>\n

          \u00a0FUNCTIONS OF WHOLESALER TO THE RETAILER
          \n<\/strong><\/p>\n

            \n
          1. He enables the retailer to stock variety of goods\n<\/li>\n
          2. He provides the retailer with credit facilities\n<\/li>\n
          3. He advices the retailer based on his expert knowledge of the product\n<\/li>\n
          4. He provides a link between the producer and the retailer\n<\/li>\n
          5. He helps to transport goods to the retailer’s shop\n<\/li>\n<\/ol>\n

            \u00a0EVALUATION
            \n<\/strong><\/p>\n

              \n
            1. Who is a wholesaler?\n<\/li>\n
            2. How is a wholesaler regarded as a “Bulk Breaker”\n<\/li>\n<\/ol>\n

              THE RETAILER
              \n<\/strong>A retailer may be defined as the trader who buys goods in small quantity from the wholesaler or directly from the manufacturer and sell in units to the final consumer.<\/p>\n

              \u00a0He is essentially in the channel of distribution because he is the last link to the consumer, so he is also a middleman.<\/p>\n

              \u00a0Retail trade can be broadly classified into two types namely; 1. Small scale retail trade 2. Large scale retail trade<\/p>\n

              \u00a0Small scale retail trade comprises of kiosk, market or stallholder retailing, street or road side retailing, cycle boys, mobile shops retailing, itinerant or hawking retailing etc.<\/p>\n

              \u00a0Large scale retailing can be the form of department stores, multiple shops, supermarkets, mail\u2013order business, hyper markets, and retail co-operative societies.<\/p>\n

              \u00a0FUNCTION OF THE RETAILER
              \n<\/strong>1.\u00a0\u00a0\u00a0\u00a0The retailer stocks variety of goods in order to satisfy the taste of the consumer.
              \n2.\u00a0\u00a0\u00a0\u00a0He brings goods to the consumer thus saving the consumer the inconvenience of going far.
              \n3.\u00a0\u00a0\u00a0\u00a0He assist the producer and wholesaler in promoting lesser known goods
              \n4.\u00a0\u00a0\u00a0\u00a0He advises the consumer and wholesaler on how to use certain products and about new development in the market
              \n5.\u00a0\u00a0\u00a0\u00a0He provides after-sales services especially for technical products like computer, television, typewriters etc.
              \n6.\u00a0\u00a0\u00a0\u00a0He finances the consumer by selling at time on credit.
              \n7.\u00a0\u00a0\u00a0\u00a0He completes the distribution chain by making goods available to the consumer ; thus completing production
              \n8.\u00a0\u00a0\u00a0\u00a0He provides market information to buyers and sellers
              \n9.\u00a0\u00a0\u00a0\u00a0He advertises the goods through fascinating window displays<\/p>\n

              \u00a0EVALUATION
              \n<\/strong><\/p>\n

                \n
              1. What roles do the retailers play in the distribution process\n<\/li>\n
              2. What is the difference between multiple shops and departmental stores.\n<\/li>\n<\/ol>\n

                \u00a0READING ASSIGNMENT
                \n<\/strong><\/p>\n

                  \n
                1. Amplified and Simplified Economics SSS by Femi Longe page 132-142.\n<\/li>\n
                2. Comprehensive Economics for SSS By. J.U. Anyaele chapter 12 pages 97 \u2013 98\n<\/li>\n
                3. New Approach Economics By K.U. Nnadi and A.B. Falodun chapter 8 pages 77 \u2013 80\n<\/li>\n<\/ol>\n

                  \u00a0GENERAL REVISION
                  \n<\/strong><\/p>\n

                    \n
                  1. Outline the merit of joint stock company.\n<\/li>\n
                  2. What are the problems partners are likely to face in partnership business.\n<\/li>\n
                  3. Mention four reasons for government participation in business.\n<\/li>\n
                  4. Write short note on i shares ii debenture\n<\/li>\n
                  5. Who is a shareholder?\n<\/li>\n<\/ol>\n

                    \u00a0WEEKEND ASSIGNMENT
                    \n<\/strong><\/p>\n

                      \n
                    1. The wholesaler provides all the following services to the producers except (a) financing\n<\/li>\n<\/ol>\n

                      (b) marketing the product.(c) granting credit (d) after sales service <\/p>\n

                        \n
                      1. Which of the following is not an agent of distribution ( a) retailer (b) government agencies (c) co-operative society (d) consumer\n<\/li>\n
                      2. Retailers are usually greater in number than wholesaler because ( a) all retailer business are small enterprises (b) all wholesaler business are large enterprises (c) retailers deal with final consumers (d) Retailer business require less capital and expertise\n<\/li>\n
                      3. Distribution is part of production because it( a) involves the use of vehicles and labour (b) involves wholesalers and retailers (c) make goods and services available to final consumers (d) require the employment of skilled labour.\n<\/li>\n
                      4. \n
                        Which of the following is the normal channel by which goods reach consumers?\n<\/div>\n
                          \n
                        1. \"\"\/\"\"\/\"\"\/\"\"\/Producers\u00a0\u00a0\u00a0\u00a0 Wholesaler Agents Retailer consumers\n<\/li>\n
                        2. \"\"\/\"\"\/\"\"\/\"\"\/Producers Wholesaler Retailers Agents Consumers\n<\/li>\n<\/ol>\n<\/li>\n
                        3. \n
                          \"\"\/\"\"\/\"\"\/\"\"\/Producer Wholesalers sales representative Retailers consumers\n<\/div>\n
                            \n
                          1. \"\"\/\"\"\/\"\"\/Producers Wholesalers Retailer Consumers\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n

                            \u00a0THEORY
                            \n<\/strong><\/p>\n

                              \n
                            1. “The wholesaler performs useful economic functions” explain .\n<\/li>\n
                            2. Highlight five differences between a wholesaler and a retailer\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

                              THIRD TERM E-LEARNING NOTE \u00a0SUBJECT: ECONOMICS\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0CLASS: SSS 1 \u00a0 SCHEME OF WORK \u00a0WEEK\u00a0\u00a0\u00a0\u00a0TOPICS 1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Revision…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,213],"tags":[],"class_list":["post-2557","post","type-post","status-publish","format-standard","hentry","category-posts","category-third-term-ss1-economics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/2557","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=2557"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/2557\/revisions"}],"predecessor-version":[{"id":2558,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/2557\/revisions\/2558"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=2557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=2557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=2557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}