Lesson Notes By Weeks and Term - Senior Secondary School 1

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Term:2nd Term

Week: 7

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Foreign trade- meaning, types, advantages and disadvantages

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

  1. Explain the meaning of foreign trade
  2. State and explain the types of foreign trade
  3. Discuss the advantages and disadvantages of 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 reviews the previous lesson on arguments for and against the elimination of the wholesale channel of distribution

Students pay attention

STEP 2

EXPLANATION

She explains foreign trade. She further states and explains the types of foreign trade

 

Students pay attention and participates

STEP 3

DEMONSTRATION

She further discusses the advantages and disadvantages of foreign trade

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

FOREIGN TRADE

Foreign trade is the buying and selling of goods beyond the boarders

of a country.

 

TYPES OF FOREIGN TRADE

  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

 

ADVANTAGES OF FOREIGN TRADE

  1. Foreign trade helps each country to specialize in the production of those

goods, which best suits its environments. It thus leads to maximum use of

its natural resources.

  1. It enables a country to obtain goods by importing which it cannot

produce due to higher costs at home.

  1. Foreign trade leads to specialize in the production of goods.

Specialization leads to lowering of costs and improving the quality of

goods.

  1. The expansion of foreign trade leads to the production of goods on a

large scale.

  1. Foreign trade equalizes the prices of goods throughout the world.
  2. The developing countries can import the latest machinery and know-how

from the developed world. They can thus speedily break the vicious circle

of poverty.

  1. The consumers are able to get those goods which are not produced in

their own countries.

  1. Development of the means of Communication and Transport
  2. International trade helps a country to face naturals incidents such as

Earthquake, floods etc. The affected countries are able to import goods

which they are short in supply.

  1. International trade discourages the formation of monopolies in a country.
  2. Foreign trade brings people of different countries close to each other.
  3. Better Employment Opportunities

 

DISADVANTAGES OF FOREIGN TRADE

  1. Due to the import of goods from abroad, the infant industries of a country

are not able to grow and survive.

  1. The underdeveloped countries depend upon the developed countries for

the import of machinery, technology etc the developed nations exploit the

weaker nations and charge very high prices from them.

  1. Foreign trade encourages slavery. It impairs the economic independence

of the poor nations.

  1. If there is an excessive export of natural resources like iron, cool etc of a

country, it will be exhausted in a shorter span of time. The country then

suffers economically in the long run.

  1. Import of harmful goods
  2. Foreign trade creates rivalry among the competing nations of the world.

It leads to ill-will, hatred and eventually to wars among them. This disturbs

world peace.

  1. The developed countries motivate the developing nations to give tariff

concessions and reduce restrictions on imports and adopt free trade. If the

developing countries are lured and agree to join such agreements, they

economically suffer in the long run.

 

 

EVALUATION:   1. Define foreign trade

  1. State and explain the types of foreign trade
  2. Outline the advantages and disadvantages of foreign trade

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively