Business Studies - Junior Secondary 2

TERM: 1^ST TERM

WEEK FOUR

Class: Junior Secondary School 2

Age: 13 years

Duration: 40 minutes of 5 periods each

Date:

Subject: BUSINESS STUDIES

Topic: TRADE

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

I.) Explain the Meaning of Trade

II.) List Importance of Trade

III.) Forms of trade – Home Trade, Foreign Trade.

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 Explain the Meaning of Trade and state the Importance of Trade	Students listens attentively to the teacher
STEP 2 EXPLANATION	Teacher identify the forms of trade - home trade and foreign trade and explain them	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

TRADE

Trade refers to the voluntary exchange of goods, services, or commodities between parties, often with the aim of mutual benefit. It can occur within a country (domestic or home trade) or between countries (international or foreign trade). Trade involves the buying and selling of goods and services, typically facilitated by markets and supported by legal and economic frameworks.

Importance of Trade

Trade is essential for several reasons:

I.) Trade stimulates economic growth by promoting specialization, efficiency, and innovation.

II.) It allows countries to focus on producing goods and services where they have a comparative advantage.

III.) Trade expands the variety of goods and services available to consumers, improving their standard of living.

IV.) Trade creates jobs in industries involved in exporting and supporting export activities.

V.) It brings in foreign currency through exports and allows countries to acquire goods and services they cannot produce domestically.

VI.) Trade fosters global economic integration and cooperation, promoting peace and stability.

VII.) It encourages competition, which can lead to lower prices, better quality products, and innovation.

Forms of Trade – Home Trade, Foreign Trade

I.) Home Trade (Domestic Trade): Refers to the buying and selling of goods and services within the boundaries of a single country. It involves transactions between individuals, businesses, and government entities operating within the same national economy.

II.) Foreign Trade (International Trade): Involves the exchange of goods and services between different countries or economies. It includes imports (goods and services purchased from foreign countries) and exports (goods and services sold to foreign countries). Foreign trade facilitates the global exchange of resources, products, and expertise, contributing to economic development and interdependence among nations.

EVALUATION: 1. Explain the Meaning of Trade

Mention 5 Importance of Trade
Explain the two forms of trade – Home Trade, Foreign Trade.

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively

Business Studies - Junior Secondary 2 - Trade