{"id":750,"date":"2023-09-27T07:02:57","date_gmt":"2023-09-27T07:02:57","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=750"},"modified":"2023-09-27T07:04:34","modified_gmt":"2023-09-27T07:04:34","slug":"week-8-jss-2-first-term-business-studies-lesson-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-8-jss-2-first-term-business-studies-lesson-notes\/","title":{"rendered":"Week 8 &#8211; Jss 2 First Term Business Studies Lesson Notes"},"content":{"rendered":"<p><strong>WEEK EIGHT<br \/>\n<\/strong><strong>TOPIC: TRADE<br \/>\n<\/strong>Trade means buying and selling of goods and services to satisfy human wants.<br \/>\nIn the olden days, trade was carried out by barter system whereby goods are exchanged for goods and services for services without the use of money.<br \/>\nImportance of trade<br \/>\n1. Trade helps in bringing producer and buyer into contact<br \/>\n2. It facilitates means of selling surplus goods<br \/>\n3. It prevents wastage of some products<br \/>\n4. It helps producers to market their goods<br \/>\n5. It brings two or more countries together through international trade.<br \/>\nForms of trade<br \/>\nTrade can be divided into two: (i) Home trade (ii) Foreign trade<br \/>\nA. HOME TRADE: is buying and selling within a geographical boundary e.g. Lagos \u2013 Port\/Harcourt, Oshodi \u2013 Idumota. It is also known as internal or domestic trade<br \/>\nHome is divided into: (i) Wholesale trade\u00a0\u00a0\u00a0\u00a0(ii) Retail trade<br \/>\n1. WHOLESALE TRADE \u2013 is buying in large quantities\/bulk from manufacturer\/producer and selling in small quantities to the retailer.<br \/>\n2. RETAIL TRADE \u2013 is buying in small quantities from the wholesaler and selling in units to the final consumers<br \/>\nB. FOREIGN TRADE \u2013 is buying and selling between two or more countries e.g. Ghana \u2013 Nigeria, Germany \u2013 Nigeria. It is alsoknown as international or external trade.<br \/>\nForeign trade involves the use of different currencies and different languages.<br \/>\nForeign trade is divided into:<br \/>\n1. Import \u2013 takes place when goods are sent from outside country into a particular country e.g. imported goods to Nigeria are television, machine, vehicles, drugs etc.<br \/>\n2. Export \u2013 takes place when a particular country sends goods to another country e.g goods sent from Nigeria to China are export goods e.g. crude oil, cassava, cocoa etc<br \/>\n3. Entrepot \u2013 is importing of goods for re-exporting purpose. The goods already import into a country for the purpose of re-exporting <\/p>\n<p>\u00a0Exercise: (i) Explain five roles of customs and excise in foreign trade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WEEK EIGHT TOPIC: TRADE Trade means buying and selling of goods and services to satisfy&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,87],"tags":[],"class_list":["post-750","post","type-post","status-publish","format-standard","hentry","category-posts","category-first-term-jss-2-business-studies"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/750","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=750"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/750\/revisions"}],"predecessor-version":[{"id":751,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/750\/revisions\/751"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}