JSS1 - SS3 Lesson Notes
Lesson Notes, Audio Lessons, Exam Questions
Lesson Notes, Audio Lessons, Exam Questions
INDUSTRIAL COMBINATION Industrial combination (or integration) is the coming together of two or more firms in order to form one large economically stable firm. REASONS FOR INDUSTRIAL COMBINATION Firms may integrate in order to fight economic recession The desire to…
TRADE ASSOCIATIONS Trade Association is an association of traders or producers engaged in the same line of trade whose major aim is to protect and safeguard the interest of their members as well as their business. Examples are M.O.A.L.S (Motorcycle…
PUBLIC ENTERPRISES Public Enterprises are business organizations established, owned, managed and controlled by the government. They are also referred to as Public Corporations or Statutory Corporations. Examples of Public Enterprises in Nigeria are PHCN, NNPC, NRC, NPA e.t.c. METHODS OF…
A co-operative society is a voluntary association of persons, businessmen, traders or organization with common needs and interests. The resources of members of are pooled together to promote the economic and welfare interest of the members. PRINCIPLES OF CO-OPERATIVE SOCIETIES…
Data Processing is the process of producing meaningful information from raw data. It describes the series of actions taken to produce useful information by collecting all items of data together and performing operations on them. The aim of data processing…
This refers to the various ways by which government controls the activities of business organization to ensure social and economic order in the society. REASONS FOR GOVERNMENT REGULATION OF BUSINESS To raise money through taxes e.g. V.A.T. Education tax etc…
DUTIES OF THE EMPLOYER To pay wages – i.e. enumeration To provide work which the employee will handle To give holidays to the employee Duty to take reasonable care for his employee’s safety Indemnity – The employee must reimburse the…
SALE OF GOODS A contract of sale of goods is a contract whereby the seller transfer the property in goods to the buyer for a money consideration called the price. The parties to this contract are known as the seller…
An agent could belong to one of the following classification: Universal Agent – An agent given unlimited or unrestricted power to enter into any type of business contract on behalf of the principal. General Agent – An agent that has…
What is an agency? An agency is a relationship which arises whenever one person (the agent) acts on behalf of another person (the principal) and has the power to affect the principal’s legal position with regard to a third party.…
A Contract is an agreement between two or more parties which creates legal rights and obligations as between the parties involved. Parties to a Contract This is the identity given to the persons who have made an agreement that is…
Public relation is the image building done by an organization to give the public favourable impression about its aims and policies. FUNCTIONS OR IMPORTANCE OF PUBLIC RELATIONS It ensures the maintenance of a favourable relationship between an organisation and the…
Advertising is the branch of commerce which deals with promoting sales of goods, services or ideas through messages that are meant to inform, educate and persuade the general public by means of various methods such as newspaper, radio, television. FUNCTIONS…
Marketing may be defined as the process of assessing consumer needs, wants, preferences and demand; designing and producing goods and services that will satisfy such wants and moving such gods and services to the final consumer at a profit to…
What is Citizenship? Citizenship is the state of being a citizen. It also means the state of having rights and duties of a citizen. A citizen is a legal member of a state or country. The citizenship of Nigeria can…
Warehousing is the act of storing goods produced or bought in a place until they are needed. Warehousing ensures that there is a regular and steady supply of goods. A warehouse is a place where goods are kept until they…
Wholesale trade (wholesaling) involves the buying of goods in large quantities from the producers or manufacturing and re-selling in small quantities to retailer. A wholesaler is a trader who purchases goods in large quantities from the manufacturing and sell in…
Self-service: This is a method that allows customers to do their shopping in a shop with little or no assistance from sales attendants. The goods are conspicuously displayed and arranged on the shelves of shops with price tags. The customers…
TYPES OF LARGE SCALE RETAILING A MULTIPLE SHOPS OR CHAIN STORES These are large scale retail businesses consisting of a number of similar shops or branches spread or located in different towns/ cities all over a country. They sell the…
There are several types of size of retail outlets which for easy analysis can be grouped into two, namely: Small scale and Large scale retailing TYPES OF SMALL SCALE RETAILING Itinerant Traders: The common feature of itinerant traders is…