Lesson Notes By Weeks and Term - Senior Secondary School 2

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  4. Requirements of trading

Term: 1st Term

Week: 11

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Requirements of trading

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

  1. Highlight the constraints facing commodity exchange
  2. State the requirements for trading commodities

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 commodity exchange

Students pay attention

STEP 2

EXPLANATION

She highlights the constraints facing commodity exchange

Students pay attention and participates

STEP 3

DEMONSTRATION

She discusses the requirements of trading commodities

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

CONSTRAINTS FACING COMMODITY EXCHANGE

  1. Not meeting up with supply.
  2. Lack of formal quality/grading standards.
  3. Poor storage.
  4. Inadequate knowledge of commodity exchange.
  5. Bad weather.
  6. Price volatilities and fluctuation

 

REQUIREMENTS OF TRADING COMMODITIES

  1. Grading System: There should be a system which provides grading and official certification of the quality, size and weight of commodity. This system is based on standard developed for each product.
  2. Clearing System: A clearing and settlement system that ensures payment to sellers as well as minimizes over exposure of counter parties is essential. This ensures that payment is guaranteed when deliveries are made.
  3. Warehousing System: Warehousing is the act of keeping goods in the warehouse until delivery.
  4. Standardization: Commodity standardization provides means of measuring quality of products.
  5. Information requirement: Another basic requirement is provision of

reliable and timely market information on prices supply and demand,

import and export.

EVALUATION:   1. Outline the constraints facing commodities exchange

  1. List and explain the requirements for trading in commodities

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively