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Term:2nd Term
Week: 8
Class: Senior Secondary School 1
Age: 15 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Commerce
Topic:- Foreign trade- visible and invisible, terms of trade comparison concept
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
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 foreign trade |
Students pay attention |
|
STEP 2 EXPLANATION |
She explains the visible and invisible imports and visible and invisible exports
|
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
She further discusses the meaning of terms of 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
VISIBLE AND INVISIBLE IMPORTS
This is the process of buying or purchasing of goods items from other
country to another. Import trade can be categorized into two, visible and
invisible import.
(i) Visible imports:
These are physical or tangible goods purchased from other countries. It
includes both capital and consumer goods e.g.
(a) Automobiles
(b) Equipment
(c) Machinery
(d) Rice and
(e) Electronics
(ii) Invisible imports:
These are services provided by other countries. Invisible import cannot be
seen physically. Invisible items are as follows:
(a) Banking
(b) Insurance
(c) Payment for travels
(d) Transportation
VISIBLE AND INVISIBLE EXPORTS
This is the process of selling the product of the country to another country
(abroad). It includes goods and services sold to other countries. Export can
be visible or invisible.
(i) Visible exports:
These are tangible goods sold to other nations. Exports from Nigeria to
other countries are made up of agricultural product and mineral resources.
The goods are sold to other countries without being processed such as:
(a) Crude oil
(b) Cotton and palm oil
(ii) Invisible exports:
These are services sold by a country to other countries of the world.
Invisible export cannot be seen or inspected. Examples of invisible export
include the following:
(a) Banking
(b) Insurance
(c) Transport
TERMS OF TRADE
This means the prices at which the country's exports exchanges for
her imports. If the prices at which a country's exports exchange for her
imports are greater, it is said that the country has favourable terms of trade.
If that of imports are greater than exports, it is unfavourable terms of trade.
EVALUATION: 1. Discuss the visible and invisible imports and exports
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively