Business Studies - Junior Secondary 1 - Introduction to Commerce

Introduction to Commerce

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TERM: 1ST TERM

WEEK SEVEN

Class: Junior Secondary School 1

Age: 12 years

Duration: 40 minutes of 5 periods each

Date:

Subject: BUSINESS STUDIES

Topic:  INTRODUCTION TO COMMERCE

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

 I.) Define Commerce

II.) List Importance of Commerce

III.) Identify Activities which Aid Commerce

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S

ACTIVITY

STEP 1

INTRODUCTION

The teacher explains the meaning of commerce and discuss the importance of commerce

Students listens attentively to the teacher                                                                          

STEP 2

EXPLANATION

Teacher state and explain the activities which Aid Commerce

Students exhibit attentiveness and active engagement

STEP 3

NOTE TAKING

The teacher writes a summarized

note on the board

The students

copy the note in

their books

 

NOTE

 INTRODUCTION TO COMMERCE

Commerce refers to the exchange of goods and services, usually on a large scale, between different entities (such as businesses or nations). It encompasses all the activities that help in facilitating the exchange of goods and services from producers to consumers, including buying, selling, and distribution.

Importance of Commerce

Commerce plays a crucial role in the economy and society for several reasons:

  1. It stimulates economic growth by facilitating the exchange of goods and services, thereby creating employment opportunities and generating income.
  2. Commerce promotes globalization by connecting markets and facilitating international trade, leading to specialization and efficiency gains.
  3. It contributes to wealth creation through profit generation for businesses and income for individuals involved in trade.
  4. Commerce enhances market efficiency by ensuring goods and services reach those who demand them most efficiently.
  5. It improves the standard of living by providing access to a wide variety of goods and services, including those not locally produced.
  6. Commerce encourages specialization as businesses focus on producing goods and services in which they have a comparative advantage.

Activities which Aid Commerce

Several activities aid in facilitating commerce:

  1. Transportation and Logistics: Movement of goods from producers to consumers through various modes of transport (road, rail, sea, air) and efficient logistics networks.
  2. Banking and Finance: Providing financial services such as loans, credit, and insurance to facilitate trade transactions and manage financial risks.
  3. Communication: Facilitating communication through technology (such as the internet, telecommunications) to conduct business transactions and exchange information globally.
  4. Trade Associations and Chambers of Commerce: Organizations that promote and protect the interests of businesses, provide networking opportunities, and disseminate information related to commerce.
  5. Warehousing and Storage: Providing storage facilities to hold goods before distribution to ensure they are available when needed.
  6. Advertising and Marketing: Promoting goods and services to consumers to create demand and facilitate their sale.

EVALUATION: 1. Define Commerce

  1. Mention 5 Importance of Commerce
  2. Identify 5 activities which Aid Commerce

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively