Lesson Notes, Audio Lessons, Exam Questions
Lesson Notes, Audio Lessons, Exam Questions
This resource provides complete and detailed notes for the first, second, and third terms, aligned with the WAEC and NECO syllabus. Designed for both students and teachers, these materials cover all key topics to ensure a deep understanding of Commerce. Use these notes for classroom learning, revision, and exam preparation.
Download complete SS 2 Commerce notes for first, second, and third terms. Comprehensive WAEC & NECO syllabus-aligned materials for students and teachers.
Meaning of Business: Business refers to the organized effort of individuals to produce, sell, or buy goods and services with the aim of generating a profit. It involves various activities such as production, marketing, sales, finance, and operations, all geared…
Meaning of Commercialization Commercialization, in essence, represents a fundamental shift in the operational ethos of government enterprises. It marks a strategic transformation from a predominantly service-driven orientation to one that is firmly profit-centric. This metamorphosis is emblematic of a dynamic…
A presentation package is a computer software package that is used to display information usually in form of a slide show.
Examples of presentation package
Microsoft PowerPoint
Macromedia flash
Windows movie maker
Communication is the act of sending and receiving message/information from one person or place to another. Communication could be oral, written or visual. IMPORTANCE OF COMMUNICATION TO COMMERCE It facilitates contacts between businessmen It creates awareness for goods and…
A stock exchange is a specialized market where investors can buy and sell existing securities like shares, stocks, debentures and gill edge securities. It is a part of the capital market. FUNCTIONS (IMPORTANCE) OF THE STOCK EXCHANGE It is…
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…
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…
SPECIAL TRADE TERMS AND MEANS OF PAYMENT TERMS OF QUOTING PRICE. CIF (Cost, Insurance and Freight): A price quoted CIF simply means that it includes the cost of goods insurance, carriage to the port of destination but exclude delivery from…
Documents used in buying and selling of goods. When business transactions occur, certain documents are drawn up and passed from one person to another. These documents are used to effect transactions between buyers and sellers. The documents are explained below;…
Commodity can be defined as food or other agricultural products such as wheat or cocoa and natural resources such as oil, or gas and metal such as gold or silver. It can also be standardized goods which are traded in…