Lesson Notes, Audio Lessons, Exam Questions
Lesson Notes, Audio Lessons, Exam Questions
This section covers comprehensive Commerce topics for students from SS1 to SS3. It is designed to align with the current WAEC and NECO syllabuses, which provides detailed explanations, examples, and practice exercises to build a solid foundation in commerce studies.
Students will learn about key areas such as trade, banking, insurance, business organizations, transportation, marketing, and international trade.
The lessons are structured to make complex commercial concepts easy to understand, helping students prepare effectively for internal and external examinations.
Use this resource to boost your knowledge, improve your exam performance, and master the principles of commerce throughout your senior secondary school journey.
Learn Commerce from SS1 to SS3 with syllabus-based topics covering trade, banking, marketing, insurance, and more. Perfect for WAEC and NECO preparation.
DETERMINATION OF THE VIABILITY OF A BUSINESS To determine whether or not a business is viable an investigation into the following sources of information must be made. Trading, Profit and Loss Account. Balance Sheet Annual Reports of Limited companies. Stock…
The profit of a business firm could be either Gross Profit or Net Profit. GROSS PROFIT This is the total sales less Cross Price: It is the same as mark-up which is the amount a seller adds to his…
Capital in business refers to all the assets and property of a firm. TYPES OF CAPITAL FIXED CAPITAL: This refers to the assets of a firm which the business is carried on, and which are used continuously in the…
Transportation is one of the aids to trade and branches of commerce which is a means whereby people and goods are moved from one place to another either through water, road, rail or air. IMPORTANCE OF TRANSPORT Movement of goods…
The Nigeria Airport Authority is a statutory body or public co – operation charged with the responsibility of managing, maintaining, running, administrating and controlling all airports e.g. Murtala Muhammed Airport Ikeja, Aminu Kano Airport Kano etc. are international airports in…
Nigeria port authority is an organ of the federal government charged with the responsibilities of producing facilities and controlling sea ports in a country. They provide facilities at the port to ensure effective and efficient sea transportation. The facilities are…
Export trade: the selling of goods/service of a country abroad. It includes goods and services sold to other countries. Nigeria’s export products are cocoa, crude oil, rubber, cassava, etc. Export can be visible and invisible. Visible export are tangible goods…
Custom and Excise authority is an agency charged with the responsibilities of assessing and collecting revenue due from import and export. It is a revenue collecting organ of the government. The department of customs and excise under the ministry of…
DOCUMENTS USED IN FOREIGN TRADE Bill of lading Airway bill Indent Certificate of insurance Consular invoice Ship manifest Make receipt Certificate of origin Weight note Dock lading account Export/import license Custom specification Dock warrant Export invoice Ship report Freight note…
International trade /foreign trade refers to the exchange of goods and services across the boarder of two or more countries by their resident and government. In other words, it is exchange of goods and services between people and different countries.…
Improvement in both economical and technical development have given both to various modern trends in retail trade. Development in retail trade are: Self – service Branding Credit cards Pre – packaging Credit cards E – retailing electrical SELF – SERVICE…
PROCEDURES OF INSURANCE CONTRACT The various processes involved in obtaining an insurance are: An Inquiry- i.e. finding out about the insurance either directly from the insurance company or agents(brokers) Proposal Form – This is issued by the insurance company. It…
FORMS OF LIFE POLICY Whole life Assurance: Premiums are paid throughout the lifetime of the assured and the sum assured is payable only when death of the holder of the policy occurs. This policy is taken for the benefit of…
PRINCIPLES OF INSURANCE There are six main principles which underlie insurance contracts and which must be present for the contract to have validity. These principles are: INSURABLE INTEREST: The person who takes an out insurance policy (i.e. the insured) must…
Insurance is a contract whereby an insurer or underwriter agrees to compensate the insurer in the event of his suffering a loss, in return for the payment of a premium by the insured. Insurance is indeed a contractual agreement between…
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…