COMMERCE SS1 SECOND TERM

IN THIS TERM, LEARNERS SHOULD LOOK OUT FOR THE FOLLOWING IN DETAIL:

WK 1. WHOLESALE TRADE – 

Meaning and functions to the; a. Manufacture b. Retailer. - Differences between wholesaler and retailer. - Channels of distribution - Factors to be considered before choosing a particular channel of distribution.

WK 2. MIDDLE MEN- 

Meaning, elimination and survival of the middlemen. - Criticism/reasons that may warrant the elimination of middlemen. - Types of wholesalers. - Merchant wholesaler; functions and types. - Agent middlemen; types, brokers, manufacturers, agent and aunctioneers. - Commission agent, delcredere agent.

WK 3. WARE HOUSING – 

Warehousing;- meaning and importance. - Types of warehousing, bonded warehousing. - State/queen’s warehousing - Public warehousing - Manufacturer’s warehousing.

WK 4. FOREIGN TRADE – 

Meaning and types (bilateral and multilateral) - Advantages and disadvantages of foreign trade. - State barriers to foreign trade. - Differentiate between export, import and entrepot. - Procedures for foreign trade.

WK 5. BALANCE OF TRADE AND BALANCE OF PAYMENT – 

Distinguish between balance of trade and balance of payment. - Reasons for imposing tariffs/restrictions in foreign trade.

WK 6. DOCUMENTS USED IN FOREIGN TRADE – 

Mail transfer, documentary credit, letter of hypothecation. - Foreign bill of exchange, travelers cheque, telegraphic transfer, etc - Custom and exercise functions. - Nigerian export promotion council;- functions.

WK 7. NIGERIAN AIRPORT AUTHORITY – 

Nigerian airport authority and Nigerian ports authority;- functions. - Nigerian export authority;- functions. - Commodity exchange;- meaning, types of tradeable commodities, agricultural produce, solid minerals, oil and gas. (list commodities and classify) - Requirements for trading, grading system, warehousing, clearing system, standardizing.

WK 8. COMMODITY EXCHANGE CONTD.-

 Types (spot, forward features),· method of trading, open, outcry, electronic. Benefits of commodity exchange. - Increase in agricultural production. - Stabilization in agricultural product pricing. - Encourage exploration of solid minerals, Foreign exchange earnings, - Increased agricultural output and quality.  Constraints to commodity trading; - Inadequate supply - Poor storage - Bad weather - Ethical issues - Middlemen, inadequate knowledge of commodity exchange.

WK 9. COMMODITY EXCHANGE –

 Differentiate between commodity and stock - Items traded; tangible and intangible methods of pricing. - Sole proprietorship; meaning, features and sources of capital, advantages and disadvantages. - Partnership; meaning, types, formation and agreement.

WK 10. PARTNERSHIP CONTD –

 Sources of capital;- advantages and disadvantages. – Dissolution.