Lesson Notes By Weeks and Term - Senior Secondary School 1

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  4. Introduction to Commerce

Term: 1st Term

Week: 1

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Introduction to commerce

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

  1. Explain the meaning of commerce
  2. Describe the scope of commerce
  3. State the functions of commerce
  4. Discuss the divisions of 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 reviews the students’ knowledge about the word commerce

Students pay attention

STEP 2

EXPLANATION

She explains the meaning of commerce.

She discusses the scope of commerce

Students pay attention and participates

STEP 3

DEMONSTRATION

She states the functions of commerce

She discusses the divisions of commerce

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

INTRODUCTION TO COMMERCE

Commerce is the exchange of goods and services between businesses. Commerce is the trade of goods, services, or other things of value between companies or organizations

 

Scope of commerce includes the roles played by the following:

  2. Aids to trade.
  3. Documents of trade.
  4. Commercial office.
  5. Commercial organisations.
  6. Marketing services.
  7. Goods and service

FUNCTIONS OF COMMERCE

  1. It facilitates easy exchange of goods and services.
  2. It provides money for the development of business and industries.
  3. It also provides storage facilities where goods can be stored until they

reach to the final consumers.

  1. It also enhances specialization of jobs, i.e. division of labour.
  2. It provides employment opportunities
  3. It improves the standard of living
  4. It aids the rapid transfer of information

 

DIVISIONS OF COMMERCE

Commerce is divided into two

  1. Trade: This is the process of buying and selling goods. Trade is divided

into two home trade and foreign trade

  1. Home trade: It is the buying and selling of goods within the border of a

country. Home trade is categorized into two

  1. wholesale: It is the process of buying in bulk from the manufacturer and

selling in bits to the retailer

  1. Retail: It is the process of buying in small quantities from the wholesaler

and selling to the end-users

  1. foreign trade: It is the buying and selling of goods beyond the boarders

of a country. Foreign trade is categorized into three

  1. Import: It is the buying of goods and services from other countries
  2. Export: it is the selling of goods and services to other countries

iii. Entreport: It is the re-exporting of goods that have been imported from other countries

 

  1. Aids to trade: These are activities that assist trade. They include
  2. Insurance: This is a coverage by contract whereby one party undertakes

to indemnify or guarantee another against loss by a specified contingency

or peril

  1. Communication: It is a process of creating and sharing ideas,

information, views, facts, feelings from one place, person or group to

another

  1. Tourism: tourism entails the movement of people to countries or places

outside their usual environment for personal or business/professional

purposes

  1. Warehousing: Warehousing is the process of storing physical

inventory for sale or distribution.

  1. Transport: Transportation refers to the activity that facilitates physical

movement of goods and individuals from one place to another.

  1. Advertising: Advertising is a marketing tactic involving paying for

space to promote a product, service, or cause. The actual promotional

messages are called advertisements, or ads for short. The goal of

advertising is to reach people most likely to be willing to pay for a

company's products or services and entice them to buy

  1. Banking: Banking is the business of protecting money for others.

Banks lend this money, generating interest that creates profits for the bank

and its customers. A bank is a financial institution licensed to accept

deposits and make loans. But they may also perform other financial

services.

EVALUATION:   1. Define Commerce

  1. State the scope of commerce
  2. State the functions of commerce
  3. Using a diagram, illustrate the divisions of commerce

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively