Learn/JAMB UTME/Syllabus/CommerceStudy this subject in LearnPractice opens in your JAMB UTME workspace after you sign in. Questions and lecture notes stay there.Practice this subjectOpen lecture notesOfficial rules, eligibility, and dates stay on the JAMB UTME guide.subject outlineCommerceMeaning and scopeCharacteristicsFunctionsOccupationMeaning and importanceTypes (industrial, commercial and services)Factors that determine choice of occupationProductionFactors, characteristics and rewards (land, labour, capital and entrepreneur)Division of Labour and specializationTypes (primary, secondary and tertiary)TradeHome Trade - Retail trade - Types of retailersHome Trade - Retail trade - Functions of retailersHome Trade - Retail trade - Factors to be considered in setting up retail tradeHome Trade - Retail trade - Trends in retailing (branding, self - service, vending machines, the use of luncheon, fuel vouchers, etc)Home Trade - Retail trade - Advantages and disadvantages of retailersHome Trade - Wholesale trade - Types of wholesalers (merchant, agent, general, etc)Home Trade - Wholesale trade - Functions of wholesalersHome Trade - Wholesale trade - Advantages and disadvantages of wholesalersForeign trade - Basic issues (balance of trade, balance of payments and counter trade)Foreign trade - Procedures and documents used in export, import and entrepôt tradeForeign trade - Barriers to international tradeForeign trade - Role of Customs and Excise Authority, Ports Authority, etc in foreign tradePurchase and Sale of GoodsProcedure and documentation (enquiry, quotation, order, invoice, proforma invoice, statement of accounts, indent, consular invoice, bill of lading, certificate of origin, consignment note, etc)Terms of trade (trade discount, quantity discount, cash discount, warranties, C.O.D., C.I.F., F.O.B., and E.O.E.etc)Terms of payments - Cash - Legal tenderTerms of payments - Credit - Types and functionsTerms of payments - Credit - Merits and demeritsAids-to-tradeAdvertising - Types and mediaAdvertising - Advantages and disadvantagesBanking - Types of bankBanking - ServicesBanking - ChallengesCommunication - Process and procedureCommunication - TypesCommunication - TrendsCommunication - Merits and demeritsCommunication - BarriersInsurance - TypesInsurance - PrinciplesInsurance - TermsInsurance - ImportanceTourism - ImportanceTourism - Agencies that promote tourism in NigeriaTourism - ChallengesTransportation - ModeTransportation - ImportanceTransportation - Advantages and disadvantagesWarehousing - ImportanceWarehousing - Types and functionsWarehousing - Factors to be considered in siting a warehouseBusiness UnitsForms and features (Sole Proprietorship, Partnership, Limited Liability Companies, Public Corporations, Cooperative Societies, etc.)Registration of businessesBusiness MergersDetermination of choice of business unitsDissolution and liquidationMerits and demeritsFinancing BusinessSources of finance (personal savings, sale of shares and bonds, loans, debentures, mortgage, bank overdraft, ploughing back of profit, credit purchase, leasing, etc.)Types of capital (share capital, capital owned, authorized capital, issued capital, called-up capital, paid-up capital, liquid capital, working capital and owners' equity)Calculation of forms of capital, profits (gross and net) and turnoverProblems of sourcing financeThe role of Bureau de change in an economyTrade AssociationsObjectives and functions of trade and manufacturer's associations (Cocoa Farmers' Association, Garri Sellers' Association, Poultry Farmers' Association, etc.)Objectives and functions of Chambers of CommerceMoneyEvolutionForms and qualitiesFunctionsStock ExchangeImportance and functionsTypes of securities (stocks, shares, bonds, debentures, etc)Procedure of transactions and speculationsSecond-Tier Securities Market, (listing requirements, types of companies for the market, advantages and operating regulations of the market.)Elements of Business ManagementFunctions (planning, organizing, staffing, coordinating, motivating, communicating, controlling etc.)Principles (span of control, unity of command, delegation of authority, etc.)Organizational structure (line, line and staff, functional, matrix and committee)Functional areas of business (production, marketing, finance and personnel)Business resources (man, money, materials, machines and opportunities/goodwill)Elements of MarketingImportance and FunctionsThe marketing concept (consumer orientation, customer satisfaction, integrated marketing, etc)Marketing mix (product, price, place and promotion)Market SegmentationPublic relations and Customer Service.Legal Aspects of BusinessMeaning and validity of a simple contractAgency, Sale of Goods Act and Hire Purchase ActContract of employmentGovernment regulations of business (registration of business, patents, trademarks, copyrights, etc)Consumer protection (Government legislation, Standards Organization Trade Descriptions Act, Consumer Protection Council, NAFDAC, NDLEA, Customs and Excise, etc.)Regulatory agenciesInformation and Communication Technology (ICT)Computer - Appreciation and applicationComputer - Types and functionsComputer - Merits and demeritsComputer - ChallengesTerms - InternetTerms - IntranetTerms - BrowsingTerms - PasswordTerms - E-mailTerms - GoogleTerms - YahooTerms - SearchTerms - Local Area NetworkActivities - E-commerceActivities - E-bankingActivities - E-businessBusiness Environment and Social ResponsibilityLegal, political, economic, social, cultural, technological environments, etcSafe products, philanthropic and societal considerationTypes and implication of pollution (water, air, land, etc.)
