{"id":3984,"date":"2023-10-06T08:34:28","date_gmt":"2023-10-06T08:34:28","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=3984"},"modified":"2023-10-06T08:38:43","modified_gmt":"2023-10-06T08:38:43","slug":"week-8-ss3-second-term-commerce-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-8-ss3-second-term-commerce-notes\/","title":{"rendered":"Week 8 &#8211; SS3 Second Term Commerce Notes"},"content":{"rendered":"<p>\u00a0<strong>WEEK EIGHT<br \/>\n<\/strong><strong>TOPIC:<br \/>\n<\/strong><strong>(1)\u00a0\u00a0\u00a0\u00a0EMPLOYER \/ EMPLOYEE RELATIONSHIP<br \/>\n<\/strong><strong>(2)\u00a0\u00a0\u00a0\u00a0GOVERNMENT REGULATION OF BUSINESS<br \/>\n<\/strong><strong>CONTENT<br \/>\n<\/strong><\/p>\n<ul>\n<li>\n<div>Duties of the Employer\n<\/div>\n<\/li>\n<li>\n<div>Duties of the Employee\n<\/div>\n<\/li>\n<li>\n<div>Right of the Employer and the Employee\n<\/div>\n<\/li>\n<li>\n<div>Reasons for Government regulation of business\n<\/div>\n<\/li>\n<li>\n<div>Methods of Government Regulation of business\n<\/div>\n<p>\u00a0<strong>DUTIES OF THE EMPLOYER<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0To pay wages \u2013 i.e. enumeration<br \/>\n2.\u00a0\u00a0\u00a0\u00a0To provide work which the employee will handle<br \/>\n3.\u00a0\u00a0\u00a0\u00a0To give holidays to the employee<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Duty to take reasonable care for his employee&#8217;s safety<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Indemnity \u2013 The employee must reimburse the employee for any expense \/ loss incurred on behalf of the employee.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Duty to provide the employee with necessary tools to work with<br \/>\n7.\u00a0\u00a0\u00a0\u00a0Duty to accept responsibility for any personal injuries sustained by the employee in the course of performing his duties <\/p>\n<p>\u00a0<strong>DUTIES OF THE EMPLOYEE<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Duty of care and diligence: Duty to act reasonably or to perform his duties in a reasonable manner<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Personal service<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Obedience<br \/>\n4.\u00a0\u00a0\u00a0\u00a0Secrecy \u2013 duty not to divulge the employer&#8217;s confidential information to third parties<br \/>\n5.\u00a0\u00a0\u00a0\u00a0Good faith \u2013 The employee must not allow his interest to conflict with his duties<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Duty not to make secret profit<br \/>\n<strong>RIGHTS OF EMPLOYER AND EMPLOYEE<br \/>\n<\/strong>a.\u00a0\u00a0\u00a0\u00a0The rights of the employer are synonymous with the duties of the employee<br \/>\nb.\u00a0\u00a0\u00a0\u00a0The rights of the employee are synonymous with the duties of the employer<br \/>\n\u00a0\u00a0\u00a0\u00a0In addition to the above, the employer has the following right<br \/>\nc.\u00a0\u00a0\u00a0\u00a0Right to enjoy the benefits of inventions or patents of the employee provided such invention were made in the course of the employee working for the employer.<\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0State four duties of the employer as regards his relationship with the employee.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0Mention three rights of the employer <\/p>\n<p>\u00a0<strong>GOVERNMENT REGULATION OF BUSINESS<br \/>\n<\/strong><\/li>\n<\/ul>\n<p>This refers to the various ways by which government controls the activities of business organization to ensure social and economic order in the society.<\/p>\n<p>\u00a0<strong>REASONS FOR GOVERNMENT REGULATION OF BUSINESS<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0To raise money through taxes e.g. V.A.T. \u00a0\u00a0\u00a0\u00a0Education tax etc<br \/>\n2.\u00a0\u00a0\u00a0\u00a0To protect consumers against exploitation by producers and middle-men eg by ensuring quality products or by ensuring regular supply of essential goods and services.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0To ensure uniformity in commercial practices.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0To protect employers and employees and ensure industrial peace<br \/>\n5.\u00a0\u00a0\u00a0\u00a0To ensure conformity to international law and protocols e.g. IATA guidelines in the aviation sector.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0To facilitate even development of all parts of the country or to promote some critical sectors of the economy.<br \/>\n7.\u00a0\u00a0\u00a0\u00a0To promote general improvement of the economy. <\/p>\n<p>\u00a0<strong>METHODS OF GOVERNMENT REGULATION OF BUSINESS<br \/>\n<\/strong>The various ways by which government regulates business include:<br \/>\n1.\u00a0\u00a0\u00a0\u00a0<strong>Registration of business<\/strong>: Government register business organization in order to have accurate and up to date statistics on the number and types of business organization operating in the country for example, Limited Liability Companies are registered by the Corporate Affairs Commission.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0<strong>Patents (Patent Rights)<\/strong>: This is the right or privilege granted by law to an inventor of machine or processes of production to enable him enjoy the benefits of his effort for a given period of time. Subsequent to this given time, other person may now copy or imitate the invention or process.<br \/>\n3.\u00a0\u00a0\u00a0\u00a0<strong>Trade Marks<\/strong>: This is an identification, distinctive symbol design or special marks used in distinguishing products made by a particular company or business organization. The trade mark is registered by the owner and confers on him the exclusive rights to use such identification on his product. The essence (importance) of trade marks becomes obvious when products are to be advertised or promoted e.g. Coca-cola continuous Ribbon; Mercedes Benz Star etc.<br \/>\n4.\u00a0\u00a0\u00a0\u00a0<strong>Copy rights<\/strong>: This is the sole right accruing or granted to the owner or producer of literary, artistic, dramatic or musical works to reproduce his works and enjoy the financial benefits thereof for a specific period of time. Another person cannot reproduce such work without a written permission from the copy right owner. The copy right usually subsist for some definite periods (50 years for musical copy right) after which it expires.<br \/>\n5.\u00a0\u00a0\u00a0\u00a0<strong>Approval of Business Location<\/strong>: Government is sometime involved in giving approval for the location of business enterprises. An example of this is the directive of<br \/>\nCBN to bank to open their branches in rural areas.<br \/>\n6.\u00a0\u00a0\u00a0\u00a0Through the activities of government agencies established to monitor and enforce quality, prices standard or law e.g. SON, NAFDAC, FEPA, KAI etc.<br \/>\n7.\u00a0\u00a0\u00a0\u00a0<strong>Regulations over ownership of Business<\/strong>: Ownership of business can also be regulated through some policies like indigenization, commercialization and privatization.<br \/>\n8.\u00a0\u00a0\u00a0\u00a0Statutory Obligation like payment of Corporation Tax, publication of accounts etc. <\/p>\n<p>\u00a0<strong>EVALUATION<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0Explain four ways by which government regulates business.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0State four reasons why government regulates business activities in Nigeria. <\/p>\n<p>\u00a0<strong>GENERAL EVALUATION QUESTIONS<br \/>\n<\/strong><\/p>\n<ol>\n<li>\n<div>Give five reasons why manufacturers pre \u2013 package their products\n<\/div>\n<\/li>\n<li>State any four disadvantages of pre- packaging<strong><br \/>\n\t\t\t<\/strong><\/li>\n<li>State six distinguishing features of a mail order business\n<\/li>\n<li>Give four advantages of  mail order business\n<\/li>\n<li>State six contents of a bill of lading\n<\/li>\n<\/ol>\n<p>\u00a0<strong>READING ASSIGNMENT<br \/>\n<\/strong>Comprehensive commerce for SSS by J. U. Anyaole page 470 \u2013 471 <\/p>\n<p>\u00a0<strong>WEEKEND ASSIGNMENT<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0The agency in Nigeria which ensures that products conform to government quality specification is the (a) MAN (b) FBPA (c) SON (d) NLC<br \/>\n2.\u00a0\u00a0\u00a0\u00a0An aspect of the law which allows an exclusive right for a limited number of years is (a) patent (b) Trade mark (c) Ratification (d) Proxy<br \/>\n3.\u00a0\u00a0\u00a0\u00a0Which of the following has powers to order withdrawal of a particular food item from circulation (a) SON (b) NAFDAC (c) Ministry of Agriculture (d) Ministry of Health<br \/>\n4.\u00a0\u00a0\u00a0\u00a0The right of ownership with respect to goods or property is (a) Certificate of occupancy (b) Title (c) Right of occupancy (d) proxy<br \/>\n5.\u00a0\u00a0\u00a0\u00a0An author&#8217;s exclusive right his published and unpublished work is known as (a) Patent right (b) Author&#8217;s right (c) Copy right (d) Constitutional right. <\/p>\n<p>\u00a0<strong>THEORY<br \/>\n<\/strong>1.\u00a0\u00a0\u00a0\u00a0State three reasons why the government regulates the activities of business enterprises in your country.<br \/>\n2.\u00a0\u00a0\u00a0\u00a0State three ways by which government regulate business activities. <\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0WEEK EIGHT TOPIC: (1)\u00a0\u00a0\u00a0\u00a0EMPLOYER \/ EMPLOYEE RELATIONSHIP (2)\u00a0\u00a0\u00a0\u00a0GOVERNMENT REGULATION OF BUSINESS CONTENT Duties of the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,309],"tags":[],"class_list":["post-3984","post","type-post","status-publish","format-standard","hentry","category-posts","category-second-term-ss3-commerce"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3984","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=3984"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3984\/revisions"}],"predecessor-version":[{"id":3985,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3984\/revisions\/3985"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=3984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=3984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=3984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}