SS3 Commerce 1st Term Lesson Note and Scheme of Work by Week
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Capital
SUB TOPICS:
A. Meaning of capital
B. Working capital: meaning and importatanct
C. Calculation on working capital and other types of capital
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INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain the meaning of capital.
2 List and explain various types of capital.
3 Explain the meaning of working capital.
4 State and discuss the importance of working capital.
5 Explain other types of capital.
6 Calculate the working capital in a given problem.
7 Calculate some related questions on working and other types of capital.
Profit
SUB TOPICS:
A. Meaning of profit and types of profit: Gross profit and Net profit
B. Trading profit and loss
C. Factors affecting profit
D. Calculation of gross profit and net profit
E. Calculation of percentage of gross profit to turnover
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain the meaning of profit.
2 State the types of profit.
3 Explain the meaning of trading profit and loss.
4 Identify the uses of trading profit and loss.
5 Explain factors that affect profit.
6 Calculate gross profit and net profit from a given data.
7 Calculate gross profit, net profit, percentage of gross profit or net profit to turnover.
Turnover
SUB TOPICS:
A. Meaning of turnover
B. Rate of turnover
C. Factors that can affect turnover
D. Other important ratios and their calculations: Margin, Mark-up, etc.
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Differentiate between turnover and rate of turnover.
2 Calculate rate of turnover from a given data.
3 Identify factors that can affect turnover.
4 Explain other important ratios.
5 Differentiate between margin and mark-up.
6 Use a given data to compute gross profit, net profit, turnover, margin, mark-up, etc.
Economic Grouping in West Africa
SUB TOPICS:
A. Meaning and advantages of economic grouping
B. ECOWAS: history, aims and objectives
C. Organs of ECOWAS
D. Problems of ECOWAS
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain the meaning of economic grouping.
2 State the advantages derived from economic grouping.
3 Narrate the history of ECOWAS.
4 State the aims and objectives of ECOWAS.
5 Mention the member countries of ECOWAS.
6 Explain the various factors that hinder the achievement of ECOWAS.
Economic Grouping in West Africa
SUB TOPICS:
A. Lake Chad Basin Commmission (LCBC)
B. Niger Basin Commission (NBC)
C. International Monetary Fund (IMF)
D. Europian Union (EU)
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Narrate the history of LCBC.
2 Explain the objectives of LCBC.
3 Explain the formation of NBC.
4 List and discuss the objectives of NBC.
5 Explain the formation of IMF.
6 List and discuss the objectives of IMF.
7 Explain the formation of EU.
8 Explain the objectives of EU.
Structure of Business
SUB TOPICS:
A. Organisational set up
B. Principle of management
C. Organisational chart and its uses
D. Types of organisational Structure
E. Authority, Power, Accountabilty, and Responsibility in an organisation
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Define principle of management.
2 List and explain types of organisational structure.
3 Draw an organisational chart showing various positions.
4 Distinguish between power and authority.
5 Explain the following and state three advantages and two disadvantages of each: (a) Line relationship (b) Functional relationship
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Public Relations and Customer Service
SUB TOPICS:
A. Public relations: meaning and importance
B. Public relations methods
C. Customer service: meaning and types
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 State the meaning of public relations.
2 Discuss the importance of public relations.
3 Explain the methods of public relations.
4 Define customer service.
5 Identify and explain various types of customer service.
6 Mention four after-sale services.
Structure of Business (CONT'D)
SUB TOPICS:
A. Span of control and factors that determines span of control
B. Delegation of authority: advantages and disadvantages
C. Why and what a manager will not delegate
D. Interdepartmental and intradepartmental communications
INSTRUCTIONAL OBJECTIVES: At the end of the lesson, learners should be able to:
1 Mention factors that determine the span of control.
2 State the advantages and disadvantages of delegation of authority.
3 Highlight reasons why a manager would not want to delegate.
4 List the importance of communications to department.
Consumer Protection
Give five reasons why consumers need protection. (Source: Ref WAEC 2004, Q8a)
Consumers need to be protected for the following reasons:
(a) Misleading advertisements
(b) Incorrect weights and measures
(c) Exploitation or creation of artificial shortages through hoarding so as to make huge profits.
(d) Consumers need to be educated on hire purchase laws and other such laws
(e) Poor quality (or sub-standard) finished goods turned out as a result of inferior quality raw materials used in bringing about production.
(f) The sale of expired or harmful food items and/or drugs prepared under unhygienic conditions.
(g) If instructions or directions of use are not given, consumers can make wrong use of manufactured items and suffer injuries or losses in the end e.g tap, electrical items etc.
Explain five means by which consumers can be protected. (Source: Ref WAEC 2004, Q8b)
Consumers can be protected through the following means
(a) Formation of consumer associations to test whether items are of good quality or not and to make recommendations.
(b) There should be enactment of foods and drugs Act to ensure that all consumable items have expiry dates.
(c) Price control measures should be put in place to curb any arbitrary price increases.
(d) Formation of Standard Board or Quality Control Board to test the quality of every item before allowing its introduction to the market.
(e) There should also be an efficient hire Purchase Act to prevent repossession after payment of the purchase price.
(f) Advertising organization/board should be set up to censor all adverts before being shown on the screens.
(g) Rent Edict/Relict Tribune should be on their toes to ensure that tenants are not cheated.
(h) There should be weight and measures Act to ensure that goods are sold at the right quantity, as well as trade description Act to ensure correct labelling of the goods
(i) Regular inspection of manufacturing places should be carried out to ensure that items are produced under hygienic conditions.
(j) There should also be sales of goods Act to ensure that quality goods are sold to consumers.
What is business law? Business law encompasses all the laws that dictate how to form and run a business. Business law establishes the rules that all businesses should follow. A list of these rules are stated in the following video.
(Ana Arm Technologies)
Capital
Profit
Turmover
Economic Grouping in West Africa
Structure of Business
Public Relations and Customer Service
Online Quiz
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